Buyers of ranch land in Montana are frequently interested in Federal, State, and Private grazing leases that accompany the property. A grazing lease is an agreement in which a landowner allows a tenant (the person who leases from the landowner) to graze livestock on the landowner’s property. Typically, the tenant will pay the landowner some cash amount in exchange for the use of the land and the forage it provides. That cash amount can be determined in a variety of ways and may not be the same from one year to the next.
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