This is a Forest Products Timber Sale Contract for Indiana. It is a sample forest products sale contract of marked timber, which is sold per 1000 board feet. It may be used by either a corporate or individual buyer or seller. Also included is an Indiana acknowledgement with an endangered species clause.
Fort Wayne Indiana Forest Products Timber Sale Contract
Category:
State:
Indiana
City:
Fort Wayne
Control #:
IN-E4003
Format:
Word;
Rich Text
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How to fill out Fort Wayne Indiana Forest Products Timber Sale Contract?
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FAQ
Timber is generally sold by one of two methods: negotiation or sealed bid. You should seek the advice of your registered consulting forester to determine which method best achieves your harvesting objectives. between you (the seller) and the buyer.
The amount of stumpage you pay is based on the timber volumes, species and grades you report and the stumpage rates for your timber. If applicable, the bid you made for your timber licence will be calculated into your stumpage. You can look up stumpage rates using the Harvest Billing System.
To estimate the value of your timber, take the volume, divided by 1,000, and multiply it by the price quoted in your states standing timber stumpage report.
To exercise the opportunity for mutual cancellation, the purchaser must submit a request in writing for each timber sale contract the purchaser seeks to cancel. The written request must be received by the BLM within 60 days of the purchaser's receipt of the BLM's letter.
With a stumpage sale, the buyer takes ownership of the timber from the landowner when the trees are harvested. Stumpage rates are proposed by the buyer (typically a logging contractor, forester, or mill) and stumpage paid to the landowner in exchange for the right to harvest their timber.
More than 142 million of the Forest Service's 193 million acres are in the eleven western states, and since 1906 the FS has returned a portion of its timber sales and grazing leases to counties.
A written timber sale agreement or contract is generally the preferable and safest method of selling timber. A written contract is a legally binding document that protects both the buyer and the seller (the landowner) from misunderstandings that may develop in the absence of such an agreement.
A typical timber sale contract usually contains the following: a description of the timber to be sold (estimated volume, number of trees and species), which timber will and will not be cut, the selling price (either lump sum or unit price), terms of payment, the location and boundaries of the sale, and time allowed to
With a stumpage sale, the buyer takes ownership of the timber from the landowner when the trees are harvested. Stumpage rates are proposed by the buyer (typically a logging contractor, forester, or mill) and stumpage paid to the landowner in exchange for the right to harvest their timber.
The income from timber sales can be claimed as a capital gain rather than ordinary income which is advantageous to landowners because capital gains are taxed at a lower tax rate and can qualify for special treatment such as long-term tax rates, the deduction of sales expenses, and the recovery of basis through
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