American Tower leasing a Verizon Tower

by Kathy

I have had a verizon tower about 17 years. I was recently sent a paper to sign allowing American Tower to lease from Verizon. They just assume you will sign and send back. After researching it I see Verizon is being paid $1900 per month by American Tower and in return American Tower will sell additional space on the tower.

So what's in this for me??? Nothing! So I told the person who keeps calling I have no reason to sign the papers. They in return say they can not market the tower and sell space. They told me they could not sell space on the tower without my permission in the future which I don't believe.

When I suggested I get a piece of the pie she suggested she might be able to offer $500.00 for my signature. Really!!!
What happens if I don't sign these forms. I do believe it is in a prime area that would never allow zoning of a new tower close by. Any suggestions?

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Apr 12, 2015
Verizon assignment to American Tower
by: Stephen

Kathy, I know it sounds frustrating to you but hear me out...

You signed a Verizon lease 17 years ago, and in that lease, most likely there is an "Assignment" provision. They can assign (transfer) the lease to another company, and if you prohibit them from doing that you could be in default.

My guess is that your lease started out at around $500 to $600 per month, and now you're frustrated that you are getting less than fair market value.

This is my suggestion. Sign the acknowledgement and you will see that American Tower will be calling you within the next year to modify and extend your lease assuming it was a 25-year deal that you signed originally back in 1997 or 1998.

That's when you can make up for the rent and fix the lease.

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