Free Sample Land Lease Agreement and Reasons Why You Need This
If you want to make a business from your land, for example, you want to rent it out, you will need the sample land lease agreement. This is a written contract which will heal you to spell out everything clearly and tie both parties to fulfill the obligation during the contract. This document is legal and binding which can avoid the future dispute in the future.
Our sample land lease agreement templates come in various designs and layouts. It is easy to use and customize with its many options.
What Is A Land Lease Agreement?
The land lease agreement is also known as the ground lease agreement which is a contract that allows the tenant to develop a property during the lease period. Usually, the land and all of the improvements will be possed by the owner unless the exception is made such as relevant taxes during the contract will be paid by the tenants.
Typically, the ground lease agreement will be 50-99 years so the tenant can construct the property. Usually, the tenants will be taking debt for financing it. This type of lease is usually very beneficial because property improvement will increase land value.
What Are The Benefits Of Ground Lease Agreement?
For running a business, this type of contract will be very beneficial when it is located in a prime location. This is beneficial for a business owner who cannot afford the land. Due to such reason, many business brands such as Starbucks and Whole Foods will do this. Besides, the land lease will not require the tenant to have down payment. Another good reason for the landowner is the huge income during the contract. Typically the ground lease will contain escalation clause which will act as the guarantor of eviction rights and increases as well as other expense.
Can You Write Your Own Lease Agreement?
Since the land lease agreement is a legal document, you need to provide legal support from the attorney or public notary to protect your document and to make it binding. However, you can always write your own lease agreement with your tenant in case you have a very strong trust. But it is highly suggested to ask some help from professionals.
You could also use our sample land lease agreement to learn some aspects about how to write it properly and complete your agreement with the help of the professionals. Make sure you will include the clause of the states and write all the details neatly.
We have so many types of templates for many kinds of purposes. We have the simple template option that you can detail outs in the contract and explains about the number of the contract as well as the termination.
For you who have plenty of farms, we also provide it on this page. This allows the tenant to use the land for agricultural purposes for various reasons with clear scope and limitations. Our templates are all editable and easy to use.
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