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AECN Test 3 (Chapter 19-26) Questions And Answers $13.49   Add to cart

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AECN Test 3 (Chapter 19-26) Questions And Answers

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AECN Test 3 (Chapter 19-26) Questions And Answers A tenant is liable for any damage to the leased premises resulting from the tenant's negligence - ANS-true Tenants are entitled to six months notice of termination for the typical unwritten cropland lease - ANS- true Tenants are entitled to six...

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AECN Test 3 (Chapter 19-26) Questions And Answers
A tenant is liable for any damage to the leased premises resulting from the tenant's

negligence - ANS-✔✔true



Tenants are entitled to six months notice of termination for the typical unwritten cropland lease - ANS-
✔✔true



Tenants are entitled to six months notice of termination for the typical unwritten pasture lease. - ANS-
✔✔false



In leasing, "lessor" means the same thing as - ANS-✔✔landlord



In leasing, "lessee" means the same thing as - ANS-✔✔tenant



In the absence of a written lease, the lease year for leases of agricultural land in Nebraska begins on
_________________________ . In the absence of a written lease, notice to a tenant to that the lease for
agricultural land is terminated under an oral year-to-year lease must be given ________ months in
advance or no later than ____ - ANS-✔✔march 1st, 6, September 1



Ted Tenant and Larry Landlord enter into a written farmland lease on January 1, 1980 with the lease
expiring December 31, 1980. The lease is not renewed but Tenant holds over and Landlord does not
object. If Landlord wanted to have a new tenant for the 1990 crop year, when (i.e. by what date) would
Landlord have to notify Tenant that the lease was terminated? - ANS-✔✔September 1, 1989



Approximately ______ percent of Nebraska farmland is rented. - ANS-✔✔50



The normal pasture lease runs from __________________ to ____ - ANS-✔✔may to October

, In a hunting lease, the lessee is the ________ - ANS-✔✔hunter



Farmers and ranchers can get a three-year 10% Nebraska state income tax credit for cash renting land or
other agricultural property to NDA-certified beginning farmers - ANS-✔✔true



armers and ranchers can get a three-year 15% Nebraska state income tax credit for share renting land or
other agricultural property to NDA-certified beginning farmers. - ANS-✔✔true



In order to qualify for the Beginning Farmer state income tax credits for renting to family members, the
property owner must have a written, legally enforceable estate plan that transfers the property from
the owner to the beginning farmer within 30 years or when the owner dies - ANS-✔✔true



Under the current Beginning Farmer program, owners of agricultural property can rent to relatives if the
relatives are certified as qualified beginning farmers by the Nebraska Depart- ment of Agriculture. - ANS-
✔✔true



Under the Nebraska Beginning Farmer program, a beginning farmer can have no more than $200,000
net worth (including spouse's assets for married applicants) - ANS-✔✔true



Under the Nebraska Beginning Farmer program, a beginning farmer cannot have farmed more than 10
of the last 15 years - ANS-✔✔true



Under the Nebraska Beginning Farmer program, a beginning farmer cannot be older than 35 years of
age - ANS-✔✔false



With the new portability rule, farm/ranch families must engage in estate planning in order to receive the
benefit of two federal estate tax exemptions - ANS-✔✔false

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