Easement Lease payments

by Tony
(Tulare, California ,USA)

I am looking to purchase a property with an existing tower on it. The real estate agent told me that when the current owner purchased the property that the prior owner said he wanted to keep the income from the cell tower. Is that normal? I understand that the "easement runs with the property" but I thought that the monthly payments also run with the property since the property owner has to keep the easement in compliance with the lease agreement. Thank you in advance for giving me any advice on this matter.

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May 24, 2022
sold lease
by: Anonymouskeith

I bought a property with tower on it, unknown to me the seller had sold the lease to an LLC. This fact was not presented in the listing and the so called lease was withheld until just prior to closing, so yes I got screwed . Now to insult to injury I had paid cash and when I went to draw some cash from it to do some improvements I was denied Fanny Mae will not back a loan on property with a tower on it. So unlike myself do some checking before you buy.

May 24, 2022
The seller gave an easement to themselves.
by: Stephen

You are buying a property with a cell tower and a cell tower lease in place that is paying rent, just not to you. Happens all the time. Make sure the deal is worth it without the cell tower income or adjust your offer accordingly. They are retaining the rights to the lease it should be recorded on the deed.

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