Some farm leases are not written, but are verbal or "handshake" agreements, the details of which may be remembered differently by both parties. This article addresses the deadline for giving termination notice for crop land leases (Sept. 1), how the requirements differ for crop and pasture lands, and links to sample written leases.
Nebraska will be host to thousands of visitors looking to catch the optimal view of the August 21 above our skies. Before opening up your lands to this agritourism opportunity, be sure to understand and addess your liability.
Some Nebraska producers may be feeling a financial crunch and considering some unfamiliar options to manage their debt. For those negotiating a workout agreement with their creditor or creditors to restructure debt under challenging financial circumstances, the author lists several points to consider.
Your lender informs you that your unpaid operating loan will not be renewed. What are your options? Loan foreclosure? Bankruptcy? One important option in Nebraska is farm credit mediation. This is when you and your creditor (or creditors) sit down with a trained mediator who tries to facilitate a compromise among the parties that avoids loan foreclosure and bankruptcy.
A 2013 tax law change–the portability rule–can simplify farm and ranch estate planning. Farm and ranch families still need to do estate planning to develop and implement farm or ranch business transition plans so that the farm or ranch can continue to be successfully operated by the next generation. This Q&A addresses a number of questions.
In today's tight agricultural economy, a lender may require you to provide additional loan collateral—including land—as a condition for receiving continued operating credit. For example, if your carryover operating debt is $160,000, the lender might suggest moving the loan onto some land, machinery, or other property that is clear of debt.