Kentucky Timber Sale Contract
About this form
The Kentucky Timber Sale Contract is a legal agreement where the seller grants the buyer the right to purchase and remove designated timber from the seller's property. This contract explicitly outlines the rights and responsibilities of both parties, differentiating it from general sales agreements by focusing specifically on timber rights and management practices. It ensures that both parties are aware of their duties during the timber removal process, providing a structured and legal framework for this type of transaction.
Key components of this form
- Identification of the seller and buyer involved in the transaction.
- Detailed description of the property and timber being sold.
- Terms outlining the rights of ingress and egress for timber removal.
- Conditions for timber management practices to be followed by the buyer.
- Deposit requirements and conditions regarding payment and damages.
- Termination clause specifying when the rights to timber revert to the seller.
State-specific compliance details
This form complies with Kentucky state laws regarding timber sales, specifically outlining management practices and environmental considerations required by state regulations.
When this form is needed
This form is essential when a landowner in Kentucky wishes to sell timber to a buyer. It should be used when the seller and buyer need to establish clear terms regarding timber removal, management practices, and liability. Scenarios for use include private timber sales, commercial logging operations, or when landowners are managing forestry resources and looking to generate income from timber sales.
Who should use this form
This contract is suitable for:
- Landowners who own timber and wish to sell their timber resources.
- Buyers or logging companies interested in purchasing timber.
- Individuals or corporations engaged in forestry management.
- Attorneys representing clients involved in timber sales.
How to complete this form
- Identify the parties involved by entering their names and contact information.
- Provide a detailed description of the property where the timber is located.
- Specify the quantity and type of timber being sold.
- Enter the agreed payment terms, including any deposits required.
- Outline the management practices to be followed during timber removal.
- Ensure signatures are collected from all parties and include notarization if required.
Notarization requirements for this form
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Avoid these common issues
- Failing to properly describe the timber being sold, leading to disputes.
- Omitting signatures from necessary parties or witnesses.
- Not specifying management practices, resulting in environmental damage.
- Leaving out payment details, which can lead to financial misunderstandings.
- Not including a termination clause, causing complications if the contract lapses.
Benefits of completing this form online
- Convenient access to legal documentation from anywhere.
- Editability allows users to customize the form as needed.
- Reliable templates drafted by licensed attorneys, ensuring compliance with legal standards.
- Easy downloading for immediate use, saving time and effort.
Quick recap
- The Kentucky Timber Sale Contract provides a clear framework for timber sales.
- Both parties must understand their rights and obligations under this contract.
- Proper completion and adherence to details can prevent future disputes.
- Using this contract strengthens the legal standing of both the seller and buyer.
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FAQ
Depending on the type of trees and the market when the timber is sold, you could earn $500 to $2000 per acre (at $1500, you would be looking at $60 per year in income if you were to annualize it over 25 years).
The average stumpage price is $300/MBF, or $1,800 per acre total value.
In it and would fetch about $500 dollars delivered to a sawmill. The top log in the pile and the second log up in the tree has about 200 bf. in it and would be worth about $175. Most high-dollar logs are veneer-quality logs.
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.
In logging contracts, payment is most often based on either dollars per unit or a percentage of the value of the wood. Historically, loggers have worked on a percentage basis, and 50 percent of the value of the wood was standard operating proce- dure.
As a guide timber harvesting costs are commonly between $20 and $40 per cubic metre depending on the type of machinery used, the type of the logs and the site conditions. Harvesting costs are generally lower for large plantations of large diameter logs on easy accessible country.
Would-be lumberjacks should expect to pay $1,000 to $2,000 per acre, plus the value of the timber growing on it, which can add anything from zero to up to $15,000 an acre to the price for stands averaging 50 years of age.
The value of this tree would be $195.00 for an average of $866.00 per thousand board feet. A fourteen inch Red Oak with a grade 3 rating would be worth $12.00 for an average price per thousand board feet of $265.00.
Logging companies rarely have the specialized equipment, not to mention proper insurances, to remove trees from an Urban setting. But even if they did, the cost associated with hauling equipment to a location and removing the bulk of an entire tree including its top is usually far greater than the value of the tree.
