Cattle lease contract tips

[Ky cowboy]

Ive been leadsing a farm for the past 4 years. I know I should have done this when I started but I didn't, the owner and I talked today and I brought up getting a contract drawn up mainly in case something happens to him. I don't want his family think that I'm trying to take advantage of him/them. The deal we have now is we started with his cows and I provided the labor and exspeneces in return I get 1/2 the calves made up in heifers that I get to keep on the place, i provide bull and hay. I also have sole hunting rights to the farm. To determine whose cows are who's I have different color tags and mine will be branded this fall.

My question is what do I need to add in a contract to try to cover all things that could come up. And how long should it be for

 

[farmerjan]

The thing now is how do you figure the calves "off your cows" as you have been keeping heifers? And when his cows get older, and get sold how do you figure that? Does he keep any replacement heifers?
Had a friend that did the same basic thing, it was for 5 years and then they renegotiated due to the percentage of cows that were still the original farmers as opposed to the heifers that the friend was keeping. You are at the point that he was at. I think that he had about 60% of the cows at that point, so he started paying some rent or building some new fence since he had a bigger percentage of the animals. If you were to take the heifers off somewhere else and just got 1/2 the calves for the labor then it would be different, but at some point you will have alot more of the animals than he will unless he is keeping enough replacements to stay at a stable number. Then you have to figure in that it takes at least 2 years for them to be productive.....
I am not saying that there is a right way or wrong way to do it. Perhaps as his cow herd diminishes, you can just pay rent, provide beef or something....
Alot depends on the amount of the land, the carrying capacity, the value of it, and the value of the hunting rights. Some places hunting rights are worth ALOT OF MONEY...

 

[boondocks]

Ive been leadsing a farm for the past 4 years. I know I should have done this when I started but I didn't, the owner and I talked today and I brought up getting a contract drawn up mainly in case something happens to him. I don't want his family think that I'm trying to take advantage of him/them. The deal we have now is we started with his cows and I provided the labor and exspeneces in return I get 1/2 the calves made up in heifers that I get to keep on the place, i provide bull and hay. I also have sole hunting rights to the farm. To determine whose cows are who's I have different color tags and mine will be branded this fall.

My question is what do I need to add in a contract to try to cover all things that could come up. And how long should it be for

You are talking about an agreement seemingly worth thousands of dollars (and a lot of your time and toil). Do it right and see an attorney.

 

[kilroy60]

I agree with boondocks statement above. Do it right and see an attorney. It's a simple lease agreement which both parties need to agree to.

 

[Ky cowboy]

Yea I plan on going thru an attorney. I just wanted to know if anyone has any advise of something I should out put in that you wouldn't usually think of.