Long Term Agricultural Land Lease Page 3
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22HOWEVER IT SHOULD BE NOTED THAT IF THIS OPTION IS INSERTED,
THEN THE LEASE WOULD NOT BE A QUALIFYING LEASE UNDER SECTION
664 OF THE TAXES CONSOLIDATION ACT 1997 AND THE APPROPRIATE TAX
RELIEFS WOULD NOT BE AVAILABLE TO THE LESSOR.
10.
On advice from a solicitor or auctioneer, a lessor may wish to consider excluding all or
certain buildings on a farm from a letting agreement if their inclusion would in any way
create the possibility of the entire holding being deemed to be a “tenement” for the
purposes of the Landlord & Tenant (Amendment) Act 1980.
In this event Clause 1 of the lease and the First Part of the First Schedule would need to be
appropriately reworded
ii
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