Overhauling your Leases to Manage Risk and Maximize Return
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The record-breaking harvest last fall serve as ample reminder of how quickly a bullish market can fluctuate in the other direction. From an agricultural leasing standpoint, shifting markets and volatile growing seasons make it problematic for tenant farmers and landlords to arrive at a fair rental value.
The December issue of the Spotlight explained that a cash rental lease agreement guarantees the landlord a certain return per acre. Because the farmer bears all agronomic and economic risk, he or she may be apprehensive offering the landlord ideal rent for the leased land. On the other hand, recent years have been profitable for most farms and the landlord may be suspicious of if the farmer is providing a “fair” return on the land through their current cash rental agreement.
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Adam J. Kline
Bose McKinney & Evans LLP
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Agricultural Services and the Indiana Unemployment Compensation Act: When Is an Agribusiness not an Agribusiness?
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A recent Indiana Court of Appeals case highlights the need for Indiana agribusinesses to be careful when determining whether their employees fall within the Indiana unemployment compensation system. The case is C. Subah Packer vs. The Indiana Department of Workforce Development.
As a general rule, services performed by an individual in agricultural labor do not require the employer to contribute to the Indiana unemployment compensation system, and the employee is not entitled to unemployment compensation in the event of termination of employment. Agricultural labor includes services performed on a farm involving raising and cultivation of crops and raising and caring for livestock.
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John P. Broadhead
Bamberger, Foreman, Oswald & Hahn, LLP
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Over the next year, we will explore the various aspects of agricultural leases. Our March issue will focus on manure application leases.
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The IALF is a charitable organization established by Indiana Farm Bureau, Inc., to promote better understanding of legal issues facing the agricultural community.
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