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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, August 31, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00

This course is $0 with these passes:

CLE
ALL

This CLE course will provide practical guidance for counsel representing landlords and tenants on key considerations and issues specific to negotiating and drafting agricultural leases. The panel will discuss threshold considerations, contract provisions unique to agricultural leases, and best practices for mitigating risk and liability for both parties.

Faculty

Marisa N. Bocci
Partner
K&L Gates, LLP

Ms. Bocci works on a range of transactional matters, including purchase and sale agreements, financing, and leasing. Her practice focuses on hotel and resort properties, commercial real estate assets, and agriculture/agribusiness matters. In the agriculture sector, Ms. Bocci has specific experience in matters relating to farmland real estate investments. She handles transactions across the country involving the purchase, sale, leasing and financing of farmland. Further, she is familiar with operational issues specific to the food packing and processing industry, including supply chain and labor arrangements. In addition, she also advises clients on agribusiness-related M&A transactions and regularly speaks and writes on agribusiness topics.

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Shannon Ferrell
Associate Professor
Oklahoma State University

Prof. Ferrell has provided over 300 extension seminars and workshops throughout North America with a cumulative audience in excess of nearly 19,000 while authoring over 50 extension publications, including serving as lead author on the Farm Transition Workbook. His extension activities encompass all areas of agricultural law, and he also teaches the agricultural law courses at both Oklahoma State University and the University of Oklahoma College of Law.

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Description

Commercial leases generally contain certain rights and provisions common to most agreements. However, practitioners face a different set of challenges and considerations when drafting agricultural leases and should understand what these are so as to mitigate risk and liability for their clients.

Agricultural leases--whether for farming or other uses such as grazing, hunting, or mineral/energy development--require certain threshold considerations including the type of lease needed depending on how the land is to be used and the parties to the agreement (e.g. private parties, government entities), state statutory requirements, and the possible effect of market conditions.

Additionally, agricultural leases incorporate detailed provisions not usually found in other types of commercial leases such as land use provisions that may allow for the application of defined chemicals, reserve mineral rights to the landowner, and warrant production capabilities of the land, as well as remedial terms that may allow, upon the tenant's default, the landlord to re-enter the property to harvest crops without causing forfeiture of the tenant's obligation to pay rent.

Listen as our expert panel provides an overview of unique issues and considerations involved in negotiating and drafting agricultural leases. The discussion will include threshold considerations, key terms, and best practices for limiting risk for each party.

Outline

  1. Identifying threshold considerations
    1. Types of agricultural leases and under what circumstances they should be used
      1. Farm leases
        1. Cash rent lease
        2. Crop share lease
        3. Hybrid lease
      2. Leases for specific land use
    2. State statutory considerations
      1. Provisions common to most/all states
      2. Examples of noteworthy unique state provisions
    3. Market trends to consider
  2. Lease terms with provisions unique to agricultural leases
    1. Parties
    2. Purpose
    3. Real estate description
    4. Rental amount/method of payment
    5. Allowed/prohibited uses
    6. Transfer of tenant's interest
    7. Payment of property taxes and insurance
    8. Repairs, maintenance, improvement costs
    9. Rights and obligations of both parties
    10. Lease termination/renewal
    11. Remedies upon default
    12. Other considerations
  3. Best practices for mitigating risk and liability
    1. Insurance considerations
    2. Recording the lease

Benefits

The panel will address these and other key issues:

  • What provisions are unique to different types of land leases and under what circumstances should each type of lease be used?
  • What state/local statutory considerations should be made prior to drafting?
  • What provisions unique to agricultural leases should be incorporated into the lease terms?
  • What market considerations should be taken into account?
  • What are best practices for mitigating risk and liablity for each party?