Legal and Tax Considerations
A lease agreement is a legal contract and includes obligations for both parties.
You will learn why you should have a written lease, what legal rules
apply to oral leases, and the different options for terminating a
lease. Also covered is what constitutes material participation, tax
implications, and what a landlord can do to secure payment.
A very common legal issue that often arises is who has the responsibility
for fences. A summary of fencing laws from the Iowa Code is included
so you can know what legal rights you have when it comes to fences.
References for further study include links to the National Ag Law Center
and sample farm lease forms.