Land Transactions & 1031 Exchanges
Being in a rural community, Andrew Hoffman Law quickly embraced real estate matters. These are very common in the agricultural sector and they often overwhelm people. For that reason, we offer experienced guidance whether you are completing a routine matter or a more complex 1031 exchange.
Routine Land Transactions
Even the every-day real estate transactions can require many overwhelming steps. For us, these are familiar and easy to navigate. We can make it simpler for you as well.
Routine land transactions we can manage for you include:
- Real Estate Sales – We can represent buyers and sellers through each step of land purchases and draft the needed agreements.
- Leases – Residential, commercial, hunting and agricultural leases are all within our realm of expertise.
- Covenants and Associations – These agreements limit use and changes to the property and we can draft or review them to help protect value or prevent undue limitations on your property rights.
- Easements – If your neighbor needs to build a driveway through your land or lay pipe to have access to water, our easements will ensure compensation to you and permissible use to the other party, minimizing future conflict.
- Land Use/Zoning – We can help ensure your plans for development or agriculture do not counter current Holt County land use and zoning laws, preserving your project.
These are just examples of the services we perform for land transactions. If you are facing a unique situation, just give us a call. It is likely we can help you.
A 1031 exchange allows you to swap out one business investment for another without the tax consequences of a sale. It only works for business or investment property, although there are some personal property transactions that can apply.
While this process can offer many advantages for a growing or agricultural venture, they can be complex and lead to penalties if mishandled. Arrange for a consultation with a real estate attorney before attempting this on your own.
At Andrew Hoffman Law, we are prepared to help you with your routine or complex land transaction. Contact us today to see how we can help you!
Farm & Ranch Leases
A well-drafted farm or ranch lease is the first step in forging a respectful relationship with your landowner or tenant. Having litigated countless lease disputes, we understand the value of a well-drafted lease. Oral leases are dangers. They fail to take into consideration big items like termination dates, liability, payment dates and amount, fencing responsibility, carrying capacities, and a host of other important terms.
If you have an oral farm lease, did you know that you have to provide September 1st notice? Avoid all of that hassle with a written farm lease. For a few hundred bucks, shelve that concern while picking up tons of protection in other areas. Leasing real estate is big business.
Not only will you receive a well-drafted lease, but we will also bring you up-to-date to with other leasing trends. With our value-added legal services, this is advice you can count on.
Wind Turbine Lease Review & Negotiations
There a lot more to negotiating a wind turbine lease than how much your monthly rent check is going to be. Does the company have the financial solvency to make long-term payments? What happens the wind company goes broke—who is responsible for removing the tower (reclamation)? What if the company is broke? Have you thought about other issues, such as hunting, liability, indemnification, crop loss, resale values, and other long-term ramifications? God only made so much land. It is our job to protect it. We will help you make smart decisions when negotiating your lease or easement with a power company.
Gone should be the days of where you lease your real estate out to a hunting outfitter without charging them an appropriate fee, and also without getting some written protection. Hunting rights are widely regarded as a “property right”, no different than mineral, oil or gas rights. If your real estate is host to some of God’s beautiful creatures, then you should consider a hunting lease if you allow anyone on your real estate to hunt—whether it is for a fee or not.
A well-drafted hunting lease should include:
- The duration, which should include specific seasons, dates, or other limiting information
- The amount of compensation (whether per acre, per bird, or per season)
- Three-fold liability protection: 1) compliance with your insurance, 2) requirement of proven outfitter insurance, and 3) written waiver signed by each hunter.
- Allowance for property damage and other unpredictable events.
If you are a hunter or outfitter and are needing assistance in procuring hunting leases, we have assisted outfitters in this process—whether it be contacting landowners at your request or drafting lease agreements.
Real estate is a bundle of rights. In America, under a private landownership form of Government, collecting a fee for selling one of those rights is one of your liberties. It can be a beautiful thing when an entrepreneur provides compensation to a landowner, for something they have been giving away for years to non-family members. Especially when it is done the right way, with everyone protected.
Whether you are leasing hunting rights or selling them, a handshake just doesn’t cut it anymore.