Vermont Statutes Title 9 Sec. 2382
Terms Used In Vermont Statutes Title 9 Sec. 2382
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- lease: means a lease of property to a farmer under which:
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lessee: means a person who acquires the right to possession and use of leased property under an agricultural finance lease. See
- Lessor: means a person who transfers the right to possession and use of leased property under an agricultural finance lease, and agents, successors, and assigns of the lessor. See
§ 2382. Agricultural finance leases
(a) An agricultural finance lease, including any lease amendments, shall be in writing, dated, and signed by the lessee and the lessor. The lease shall be completed before being signed by the lessee. The lease need not be contained in a single document. A copy of the lease shall be provided to the lessee at the time of execution.
(b) The printed portion of an agricultural finance lease, and the accompanying disclosure sheet if not incorporated into the lease, other than instructions for completion, shall be in a size equal to at least eight-point type. The contract shall be designated in a size equal to at least 10-point bold type as an “agricultural finance lease ” and shall contain the following notice in a size equal to at least 10-point bold type.
“NOTICE TO THE LESSEE—DO NOT SIGN THIS LEASE IN BLANK. YOU ARE ENTITLED TO A COPY OF THE LEASE AT THE TIME YOU SIGN. KEEP IT TO PROTECT YOUR LEGAL RIGHTS.”
(c) The provisions of section 2454 of this title, requiring a lessor to disclose a lessee’s right to cancel a lease, shall apply to an agricultural finance lease that is a “home solicitation sale,” as that term is defined by section 2451a of this title. (Added 1989, No. 284 (Adj. Sess.), § 1; amended 2011, No. 136 (Adj. Sess.), § 1, eff. May 18, 2012.)