Indiana Timber Sale Contract Indiana Form
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People also ask
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How do I get out of a timber contract?
Unfortunately, there is not FTC right to cancel a timber sale. However, if you were pressure into entering the contract, you can cancel the contract. If the buyer refuses to accept your cancellation, then the buyer will have to file lawsuit against you to force you to honor the contract.
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What is a timber contract?
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 ...
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What is a timber clause?
The Vendor shall retain title to all harvestable timber on the Purchased Line for ten (10) years after the Closing, and the Purchaser shall use all reasonable efforts to cooperate with the Vendor in connection therewith.
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What is timber vs lumber in construction?
Timber is defined as a tree or erect wood that has not been processed into lumber. On the other hand, lumber is a piece of wood that has been laid down or processed. Several people refer to timber as a piece of bark-covered wood. A barkless piece of dry processed wood is referred to as lumber.
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How does a timber sale work?
Lump-sum sales are the simplest way to sell timber. Typically, the sale is put up for bid and each potential buyer submits an offer for the designated timber. Lump-sum sales require buyers to have accurate volume estimates by species and product type to establish their bid.
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