What is a Farm Equipment Lease Agreement? A farm equipment lease is a long-term rental agreement between the owner of farm equipment (the lessor) and an individual or company that wishes to use the farm equipment (the lessee) in exchange for cash rent. Farm equipment leases are far from simple agreements. A properly drafted agreement will navigate the following five …
Buying farm machinery is a long term purchase and there are multiple ways to go about obtaining the equipment: 1. Outright Sale: An outright sale occurs when the ownership is transferred to the buyer and the seller is paid in full at one time. 2. Installment Sale: The buyer obtains immediate possession and use of machinery, but seller obtains payment …
<iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/aYx8HfACKKg” frameborder=”0″ allowfullscreen></iframe> Here is the video of the presentation that I gave to Lawline this past summer on an Overview of Common Agriculture Contracts. You can download the slides and the presentation materials that go along with this presentation and get Continuing Legal Education (“CLE”) credits (for you lawyers out there) via Lawline here. This …
[slideshare id=64362431&doc=overviewofcommonagriculturecontracts-7-25-16-160725160412] I will be going through the above presentation for a live webcast this Thursday at 3:30pm ET via Lawline. The recording will be available soon after my presentation via Lawline. You can register for the live webcast here. In this presentation, I will be discussing a few of the major contractual issues that affect production agriculture including agriculture production …
I will be moderating a CLE for the American Bar Association, General Practice Solo & Small Firm Division’s Agriculture Law Committee on September 15, 2015 at 2pm ET (1pm CT) titled “Counseling Farmers & Ranchers, Agri-Businesses and Food Entrepreneurs on Insurance.” Faculty members include Theodore A Feitshans, Mike Kelly, Maggy Gregory, Javan Grant and Rachel Armstrong. You can register for …
Under Section 183 of NY Lien Law, any veterinarian who renders the treatment or boards any dog, cat, or other domestic animal or person keeping a livery stable, boarding stable or pasturing animals has a lien over the animal and any equipment kept and stored in conjunction with the animal such as a “wagon, truck, cart, carriage, vehicle or harness”. …
I was recently posed this question from a farmer close to retirement concerned about social security. He has been farming his whole life and would like to shift into a landlord role. In way of background, you must have a certain number of credits under the social security system before receiving social security based eligible quarters. A farmer may have …
I enjoyed reading Troy Marshall’s article in Beef magazine titled “5 things I’d pay more for” (page 43 in the July 2012 issue). Troy states that there are a few items he thinks is worth extra money including (his Top 5): 1. Good genetics; 2. Good people; 3. Good equipment and tools; 4. Good horse; and, 5. Good boots. I …
Happy Friday! Last week, I stumbled across Rusty Rumley’s powerpoint presentation on “Agricultural Contracts and the Leasing of Land.” Rusty does a great job giving an overview of the building blocks. He’s a great teacher — he was one of my instructors in this agriculture law course last year— and I suggest looking at his presentation along with other useful …
Happy May Day! I have had a great visit in Illinois visiting Lake Land College and family. Our pastureland grass is lush and green. Illinois has been hit with a lot of rain this spring. Dad *hopes* to plant corn next weekend. Had a nice afternoon catching up on blogs. Here are a few that caught my eye: 1. April …