Leasing the Land and the Water
If you were to ask a farmer what their most valuable resource is, it is a good bet that water would be their answer. If that farmer irrigates, then it is also likely that a large makeup of their land value, maybe even most of it, is due to their water resource. Given that water is such an important and valuable resource to farmers, it is curious that water is sometimes given such little attention when agreements are made to lease agricultural land. A new paper has been prepared by The Kansas Farm Bureau Legal Foundation to help identify some water right issues that should be addressed in a farm lease agreement. You can view the paper here.