Section 26 Farm Lease Checklist

• Library: Farm Law 2006 Forms

I. Parties

A. Correct names and addresses

B. All landowners and spouses included as lessors

C. All occupants included as lessees (usually require lessee's spouse's signature)

D. Capacity of parties to lease-corporation, partnership, fiduciary, etc.

1. Obtain corporation proof of good standing and resolution authorizing lease

2. Check any power of attorney for form, signature, execution, and revocation

II. Real Estate Description

A. Correct legal description

B. Location and number of acres

C. Plats, maps, or surveys

D. Improvements included or excluded

1. Barns

2. Grain bins

3. Other buildings or fixtures

III. Term of Lease

A. Duration

B. Dates possession delivered and surrendered

1. Right of tenant to cancel without penalty if possession not delivered

2. To create landlord-tenant relationship, use words such as lease, demise, etc. to show possession is delivered to tenant

C. Reasons that landowner or tenant can terminate before end of term

D. Options to...