Negotiated agreements between traditional owners and pastoralists about use and management of lands held under pastoral lease tenures in the arid and semi-arid rangelands of Australia will promote secure futures for both parties. In this paper we will discuss this assertion and the processes of agreement making we are engaged in the South Australian rangelands. First we will explain the particular meaning of the Australian jargon we use throughout this paper - traditional owner, pastoralist and pastoral lease tenure. Following this we envision what the agreements that will result from current negotiating processes will deliver and how they will work 'on the ground'. We consider some of the challenges for the negotiating process and useful roles for business and property planning as tools to shape the content of agreements.