tower on my property with no payments attached

by cindy

Hi:

I just purchased a property with a cell tower on it. The property had been in a foreclosure status. The cell tower lease states it runs with the land. Cell tower company said send in your deed with proof of ownership, W-9 form and ACH form for the payment transfer. We closed on the property with that information from the cell tower company.

We signed a notice of non disturbance at closing. Now the cell tower company says there are no lease payments due on the lease. They now claim the lease has been satisfied until 2050 and no payments are due on the property owners.

I now have a property with a huge liability of a cell tower on it that is claiming they don't have to pay anything for keeping the cell tower on my property.

Is this legitimate business practice by cell tower companies. I am looking into an attorney. The cell tower did not disclose the true facts and I feel I am damaged by their actions.

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Apr 26, 2016
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starstarstarstarstar 		Representation at closing?
by: Anonymous

Did you have an attorney representing you for the closing? Did a real estate agent handle the transaction?

It is not uncommon for a tower owner to, instead of paying annual ground rent to purchase a long term "easement" on the property, buy the right to occupy the ground leased property for 30 or 50 years. Often you think of an easement like right to access or an easement a power company might have to run lines over your property.

This is essentially making a lump sum payment lease. Normally the tower owner has a memorandum of lease recorded at the county courthouse to provide public notice of any ground lease. If your attorney had you sign an NDA without informing you of the details of that lease, shame on him/her! Perhaps you can sue the attorney or a real estate agent, if one represented you.
Feb 15, 2016
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starstarstarstarstar 		Did you run a title report before the purchase?
by: Stephen

Cindy, was there a memorandum of lease filed at the county showing that an easement had been paid out until 2050?


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