Top 50 Questions about Farmland
In Iowa, lease termination is a critical step when planning to sell farmland that has a tenant farmer. Here’s what you need to know about the process and timeline.
When to Serve Lease Termination
- Termination Deadline: Notice to terminate a farm lease must be served by September 1 of the current year. If it’s not served by this date, the lease automatically renews under the same terms for another year.
- Lease End Date: Even if proper notice is given by September 1, most farm leases remain active until March 1 of the following year. That’s because most Iowa farm leases run on a March-to-March cycle.
How to Serve Lease Termination
-
Forms and Documentation:
- Use online forms or lease termination templates.
- Ensure the document meets legal requirements for proper notice.
-
Delivery Methods:
- Serve the notice yourself.
- Hire an attorney to handle the process.
- Work with a farmland broker (like us!) to assist with preparation and delivery.
-
Communication with the Tenant:
- If you prefer not to deliver the notice yourself, your broker or attorney can communicate with the tenant to explain the plans and handle the process.
Key Takeaways
- Serve lease termination by September 1st to avoid automatic renewal.
- The lease remains valid until March 1st, even after termination notice.
- Brokers and attorneyscan handle the termination process and tenant communication to ease the burden.
If you’re considering selling your farmland and need assistance with lease termination, contact David Whitaker – Iowa Land Guy for expert guidance!
David Whitaker | Iowa Land Guy
