long term contracts when property changes is sold

If you purchase land with a cell tower, does the contract have to be re-negotiated with the new land owners?

Comments for long term contracts when property changes is sold

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May 25, 2016
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starstarstarstarstar 		Most likely, no.
by: Stephen

If you purchase land with a cell tower, the lease and rental payment should in most cases assign over to whatever entity ends up owning the land. That is unless the previous owner signed off on some sort of crazy assignment or right of first refusal provision. Also make sure that they don't sell the lease cash flow revenue stream out from under you before you buy it and you end up holding the bag and wind up with a tower that generates zero revenue. Get a copy of the lease and get a detailed title report to see if anyone has purchased an easement for the tower before you buy, in our opinion.

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