buying land

by adam

I'm going through my due diligence on buying a piece of land to develop and there is a cell tower in the corner. originally, i had no concerns about this since i can develop around it and still provide them access. however, the sellers tell me they sold the rights to the lease... So i wont have any benefits from buying land that has no income. I want to know what legal action i have to either 1) get back the rights to benefit from this on my land or 2) have them remove the tower so i can do something else?

only document they have sent me is a lease agreement between the property owner and Verizon. does say that successors of each party has benefit. are they lying? is this possible to sell a lease to someone that doesn't own the property to collect rent payments on land they don't own? i'm confused....

Thank you,

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Apr 03, 2018
ugly situation?
by: Anonymous

True I haven't bought (yet) but working on it.

I don't necessarily want to throw them off I just want to know what legal issues i will have and what kind of insurance they have in case something happens and destroys my development around them.

They do pay there own taxes on the structure but I pay the property taxes in which is sits on. As a landlord I want to make sure I will be compensated for this burden on my new land.

Landowner says they sold the lease which is fine for now but as a landowner, there still has to be some benifit to having a tower on your land or they wouldn't have done this correct?

Mar 30, 2018
Adam, here's the good, the bad , and the ugly...
by: Tower Genius

This is not legal advice.

The good thing is that you didn't purchase the property yet.

The bad thing is that you are not going to be able to throw the off the property just because you are the new owner.

The ugly thing is that any taxes attributed to the leased tower space may also be your responsibility to pay, without being able to pass it along to the tower company if the current owner didn't negotiate the buyout deal shrewdly.

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