Posts tagged ‘farm lease’

2010 Agriculture Cash Rent Data for NW Ohio Released

The following was developed and compiled through great research conducted by Barry Ward, Ohio State University Extension , Production Business Management.

Ohio is a diverse state agriculturally and cropland values and cash rents vary tremendously across the state. Generally speaking, western Ohio cropland values and cash rents differ a fair amount from eastern Ohio cropland values and cash rents. This is due in part to one of any number of factors including land productivity and potential crop return, variability of crop return, field size, field shape, drainage, population, and ultimately the supply and demand of rented cropland in an area.

Ohio cropland values show signs of remaining stable to falling slightly in 2010 while this survey indicates cash rent levels will see little change in 2010. According to the Western Ohio Cropland Values and Cash Rents Survey bare cropland values are expected to decrease from 0.1% to 3.1% in 2010 depending on the region and land class. Cash rents are expected to range from a decrease of 1.5% to an increase of 3.19% depending on the region and land class.

Ninety-five surveys were completed, analyzed and summarized. Respondents were asked to give responses based on 3 classes of land in their area; “top” producing land, “average” producing land and “poor” producing land.

Tables show the average (Avg) (simple average) of each row, standard deviation (Std) of the data for that measure (measure of variability), average plus one standard deviation (Avg + 1 Std), and average minus one standard deviation (Avg – 1 Std). These latter two numbers reported indicate a range within which about two-thirds of the responses in the data for that measure will fall.

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April 14, 2010 at 12:55 pm

Terminating Farm Leases in Ohio — Is There a Date That Leases Must Be Terminated?

Often I overhear a conversation, or am sometimes flatly told, that if a farmer has his or her inputs purchased for a rented farm by March 1 a farm lease cannot legally be terminated by either party.  In Ohio, as of the date of this post, this is not true. It is true that some states do have legislation or statutes that provide a date, but Ohio is not one of those states.  From the OSU Ag Law Newsletter, Fall 2007:

If the parties do not have a written lease covering notice of termination, Ohio court made law would come into play to determine the proper notice period in the event of a dispute. Our courts vary on the notice period required for a year-to-year farm lease-from three months to six months. Based on these court rulings, parties to a farm lease in Ohio should consider providing a six month notice of termination. If proper notice is not provided by one party, the other party could legally argue that the lease should continue for another lease period. A statutory law stating a specific notice period for farm lease termination could help prevent disputes over whether adequate notice has been given.

The above piece was written by Peggy Hall, Director of the OSU Ag Law Program, and has not changed since she wrote it in 2007.  There is a local custom that landlords and tenants may follow.  The local custom in Van Wert County is to renogotiate leases late summer or following fall harvest.  However, without anything in writing a lease could technically be renogiatiated at anytime.  OSU Extension strongly recommends putting any lease agreement in writing to avoid the ambiguity of farm lease termination.  Don Breece, Robert Fleming, and later,  Peggy Hall, have developed an excellent resource for farm leases:  http://aede.osu.edu/programs/aglaw/docs/FarmLeaseFactSheet2008.pdf.  In addition to that resource, there is a very east-to-follow checklist developed by Don Breece at http://ohioline.osu.edu/fr-fact/0003.html

Finally, for the latest in changes or updates in farm leases I recommend you subscribe to the Ohio Ag Manager newsletter at http://ohioagmanager.osu.edu/services/email.php. Ohio Ag Manager is a monthly newsletter from OSU Extension that focusses exclusively on farm management issues in Ohio.

April 14, 2009 at 7:30 am 2 comments


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This blog is no longer being maintained. Information on this blog may still be relevant, but for the latest agronomic information and farm management information please visit http://corn.osu.edu and http://ohioagmanager.osu.edu, respectively.

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