renewed the lease with out contacting the landlord

In 2010 crown castle renewed their lease and set it to expire in December 31, 2031. I have gone over countless documents all state them doing this with out the landlords knowledge. They just stated themselves as the grantor and the grantee. The property had been foreclosed during this period and no deal was made with the bank. The new owner of the property is getting no money for the towers but still have to pay taxes on the land those towers are sitting on. How is this possible and what do you recommend to resolve this?

Comments for renewed the lease with out contacting the landlord

Average Rating starstarstarstarstar

Click here to add your own comments

Oct 25, 2015
Rating
starstarstarstarstar 		Sounds like previous owner sold the lease.
by: Stephen

It sounds like the previous owner sold the lease rental stream to Crown before the foreclosure, and then the bank was stuck with the property and Crown has the perpetual easement for the tower. Because of the SNDa subordination & non-disturbance arrangements between tower companies and lenders, the banks allow the carriers to operate even if they take possession of the property in a foreclosure. The new owner of the property is left holding the bag for the tower. This happens a lot. Hopefully the property was purchased at a significant discount.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Crown Castle Lease Questions and Answers.

Find out from Tower Genius how we help landlords and property owners in the USA  maximize cell site lease values and get the best possible terms for:

  • Cell tower lease agreements
  • Tower lease extensions
  • Cell site upgrades
  • Small cell proposals
  • Lease amendments
  • Tower lease buyouts offers
  • Rooftop lease buyout offers
  • Rooftop cell site audits
  • Lease Agreement defaults
  • Cell tower valuations
  • Rent reduction solicitations
  • Lease Optimization Help
  • Lease Revenue Purchase
  • Verizon Wireless 
  • AT&T
  • T-Mobile
  • Sprint
  • US Cellular
  • SBA Communications
  • Crown Castle
  • American Tower
  • Vertical Bridge
  • Lendlease Towers, Md7
  • Tillman Infrastructure
  • Lyle Company, Black Dot
  • Everest Infrastructure

We Would Like To Hear From You.
 

Cell-Tower-Leases.com
Contact Tower Genius
Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.