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...
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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