MU Extension provides land lease seminar to area residents

Friday, January 31, 2014
Whitney Wiegel, University of Missouri Extension regional agriculture business specialist, presented a seminar on land leases on Wednesday, Jan. 29, at the extension office in Marshall. (Kelly Melies/Democrat-News)

On Wednesday, Jan. 29, Whitney Wiegel, University of Missouri Extension regional agriculture business specialist, spoke about ag land leases and types of lease agreements at the MU Extension office in Marshall.

He spoke about the importance of land leases for farmers and agriculture. Land cost is the number one expense for many crop farmers, he said. Approximately 30 to 40 percent of total costs are from rented land. Wiegel also said land cost and tenure are notable reasons of risk. Land leases are a primary source of farmers' retirement income and they influence the continuity of farm ownership and management.

"With land leases, both tenant and landowner's reputation are at stake," Wiegel said.

There are different types of agreements, he said. There are cash rent agreements, a crop share or livestock share agreement and flexible cash rent agreements.

"A lease is a contract," Wiegel said. "Make sure there are names of all parties entering an agreement, a legal description of the property, the terms of the agreement, the rental rate and payment arrangements, right of entry statement and signatures."

For more information about land leases and agreements, you can log on to www.aglease101.org or contact Whitney Wiegel at 660-584-3658.

The next land lease seminar will be held in Carrollton at the Public Library from 2 to 4 p.m. on Feb. 5.

To register, call the Carrollton extension office at 660-542-1792.

Contact Kelly Melies at kmelies@marshallnews.com