New Mexico Land Lease Agreement is a tool designed to facilitate leasing farmlands in New Mexico. The purpose of this lease agreement is to provide opportunity for young farmers to grow. Similarly, such lease agreement takes care of the rightful equity of the landlord. In addition, this legal contract covers all aspects of the tenancy. However, it is imperative that both signing parties review the entire document and prepare it together as it requests various inputs and distribution of liabilities and profits. Notary acknowledgement of signatures on this contract form is necessary for its legal standing. The lease agreement template has 14 sections and preparing them in their entirety is necessary.
How to Write
Section I: Party Names
- Please enter the date of execution of the lease agreement.
- Enter landlord and land’s name.
- Enter tenant and land’s name.
- Enter the name of New Mexico County.
Section II: Term
- Enter the lease term in years followed by the dates of commencement and termination of the lease. Then enter the permissible day for sending renewal notices.
Section III: Rental Rates and Arrangements
- Option A: Crop Share Rent – Enter the number of acres, landlord and tenant’s percent share, and information about landlord’s share distribution. Use a separate line for each crop.
- Option B: Livestock Share Rent – Enter the number of animals, landlord and tenant’s percent share, and information about landlord’s share distribution. Use a separate line for each animal.
- Option C: Cash Rent – Enter the total amount, the place of remittance, the mode of remittance, installment amount, and date of commencement of remittance of cash rent on the respective lines.
Section IV: Farm Operation
- Enter name of equipment, name of party to furnish it, operating expenses, and information about proportionate sharing between landlord and tenant.
Section V: Conservation, Irrigation and Improved Farming Practices
- Option A: Soil Conservation District Plan for Farm – Enter name of the district.
- Option B: Conservation and/or Other Practices – Enter information about the practice, contribution by landlord and tenant, and information about sharing government payment. Use a separate line for each practice and extent.
- Option C: Other Improved Practices – Enter information about practices and landlord’s contribution. Use a separate line for each practice.
Section VI: Improvements and Repairs
- Enter the information about restriction for the tenant.
- Enter the information about additional improvements by the landlord each on a separate line.
- Enter information about improvement or fixture.
- Specify information about the unexhausted value of improvements like irrigation ditches, leveling of land, and improvement. Please specify unexhausted proportion in years.
Section VII: Records
- Please enter information about records on the respective lines.
Section XIV: Signatures
- Both parties must date and sign before a notary public of New Mexico State and obtain his/her acknowledgement in the required format to execute the land lease agreement.