The Uniform Commercial Code (UCC) has been adopted in whole or in part by the legislatures of all 50 states.
Section 2-107 classifies items to be severed from realty and growing crops, or timber to be cut, in terms of whether the items constitute goods that may be made the subject of a sale and whether a transaction concerning them is a sale before severance. The section provides that certain attached and embedded things are "goods" when they are to be severed by the seller. This category consists of minerals in the ground, including oil and gas, and structures on land. Also treated as goods are: (1) standing timber; (2) growing crops; and (3) any other thing attached to land, provided it can be removed without causing material harm to the land.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Title: Understanding the Arkansas Agreement for Sale of Growing Crops After Severed from Realty Introduction: The Arkansas Agreement for Sale of Growing Crops After Severed from Realty is a legal contract that deals with the sale and transfer of crops that are still growing on a land despite being physically separated from the real property. This agreement ensures that both the seller and the buyer are adequately protected during the sale process. In Arkansas, there are primarily two types of agreements for the sale of growing crops after severed from realty: 1. Arkansas Agreement for Sale of Growing Crops After Severed from Realty — Cash Sale: This type of agreement pertains to the sale of growing crops where the buyer pays the seller the full purchase price at the time the agreement is signed. The seller then grants the buyer the right to harvest and remove the purchased crops from the land. This agreement for cash sales typically includes provisions addressing the transfer of ownership, payment terms, liability, and any specific conditions agreed upon by the parties involved. 2. Arkansas Agreement for Sale of Growing Crops After Severed from Realty — Installment Sale: Unlike cash sales, in an installment sale agreement, the buyer pays the purchase price for the crops in multiple installments over a pre-determined period. The seller grants the buyer the right to harvest and remove the crops once the entire purchase price is paid. This type of agreement includes detailed provisions related to payment schedules, interest rates (if applicable), default clauses, and the transfer of ownership. Key Elements of the Arkansas Agreement for Sale of Growing Crops After Severed from Realty: 1. Identification of the parties involved: This section includes the names and contact details of the seller and buyer. 2. Description of the crops: A comprehensive description of the crops, including location, acreage, and any specific variations, should be included. 3. Purchase price and payment terms: This section specifies the total purchase price and details the payment options, whether it be in cash or installments. 4. Transfer of ownership: The agreement should outline the conditions under which ownership of the crops is transferred from the seller to the buyer. 5. Harvesting and removal: The buyer's rights and responsibilities regarding the harvesting and removing of the crops from the land should be clearly stated. 6. Conditions and risk of loss: This highlights the responsibilities and liabilities of both parties should any damage or loss occur to the crops before or during the sale period. 7. Default and remedies: Terms related to defaults, breach of contract, and the available remedies for the aggrieved party should be covered. 8. Governing law: The agreement must specify that it is governed by Arkansas state laws in case of any disputes or legal matters. Conclusion: The Arkansas Agreement for Sale of Growing Crops After Severed from Realty is a legally binding contract that ensures a smooth transfer of ownership and sale of crops that are no longer attached to the land. Whether it's a cash sale or an installment sale, understanding the key elements of the agreement is crucial for protecting the interests of both parties involved.
