Legal Procedure of Leasing Your Land to Solar Company
If you own some land that is standing unused, you can lease it, earn some income and also increase the land’s value. You love your land and would love to know that it’s being put to good use.
There are many advantages of leasing it to a solar company; after all, solar is from nature, and that is good already. More and more people worldwide are waking up to the enormous environmental challenges facing us – water scarcity, climate change, plastic pollution, and deteriorating natural resources to name just a few.
The sun is a powerful source of affordable energy and it simply makes good sense to make use of it. It therefore also makes good sense to lease your land to a solar company, but there will be some legal procedures to follow.
Someone is Interested in Your Land
Leasing property can be complex with a slew of regulations, and knowledge and awareness will be important. What obligations will you have? How will you be regulated if you want to still use other parts of the property? The lease agreement should stipulate how the land will be used by the solar company.
The Legal Aspect made Easy for You
The beauty about dealing with the right solar company is that they make the legal side easy for you. If you are indeed interested in leasing your land for solar farm development, they suggest you fill in their online inquiry form and they will be in touch.
The solar company has a FAQ page and they answer a host of legal questions such as ‘Will I as the landowner, get paid during the development term?’ The answers are always provided, and in this case, the answer is yes, an initial payment will be made upon execution of the agreement and other payments will be made in quarterly installments.
Another legal query would be ‘what happens if the solar project becomes insolvent? The solar company goes on to explain what will happen in such a case.
Lift Your Glass to a Successful Lease of Unused Farmland
A land lease is an agreement that allows people such as a solar company to use a piece of land owned by the landlord. Most land leases are vacant and the company can go ahead to construct their solar-structures.
A long term lease has a number of long term benefits, and once the lease has been signed by both parties and stamped by Revenue, its time to lift your glass to a new relationship and more financial security.