Are you thinking about leasing a piece of land to a friend or family member? Although you might be doing a good deed, it is still possible that your deed could come back to haunt you in the future. In order to protect yourself and to make sure you’re paid for your troubles, it is essential to get the leaser to sign a lease agreement.
What It Does
First and foremost, you should learn about the land lease agreement and its primary purpose. The document is primarily utilized by landlords, who intend to lease out a piece of land to someone else. Once the document has been signed by both parties, the landlord will be able to lease the land to someone else in exchange for rent money. Remember that there are residential and commercial agreements, so it is possible to use such a document in almost any situation. The document will set the parameters for the lease and will including information, such as electricity, water, sewage, and monthly rent payments.
Why Use It?
If you’ve ever rented a piece of land to someone else, you’ll understand the implications involved. There are many risks and it is impossible to negate all of these. However, a lease agreement will help to decrease the potential for trouble. As a landlord, it would be a major mistake to enter into a lease, without getting the document signed ahead of time.
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