Tristar Investors Letter Agreement

by Kendall
(Jacksonville, FL)

I'm a landlord with an American Tower lease that has approx. 13 years remaining on it. August of 2010 I was ready to accept a partnership with Tristar Investors and stupidly, I signed their Letter Agreement (but not the Easement). I disclosed that there was an existing lien on the property.

Fast forward to the beginning of 2011, and my decision that I don't want to sell the lease to them and become their partner for the measley amount they've offered to buy out the current lease for.

February of 2011 I got a voicemail from them asking me to return their call. I ignored it. Now 5 weeks later I have received another voicemail stating that the title company has discovered something they need to discuss with me.

I intend to return their call this time, but I have done nothing on my end to try to get the lien released on the property. Am I going to be in trouble with them, and if I ask the bank to send them a letter stating they will not remove the lien from the property is there anything they can do to force that to happen or take me to court over this?

Comments for Tristar Investors Letter Agreement

Average Rating starstarstarstarstar

Click here to add your own comments

Jan 10, 2012
Rating
starstarstarstarstar 		Depends
by: Lawrence Gould

It all depends upon whether you warranted (promised) that there were no liens. I've worked for a number of tower companies, and so I've seen a broad range of purchase documents - and I've also seen Tristar's documents. There is a difference between agreeing to use your best efforts to get the bank lien 'subordinated' to the easement, versus 'covenanting' to have it removed - which means you could be liable if it isn't removed. Regardless, most land acquisition companies, including Tristar, know they can't control banks and that you can't either. If you make a reasonable effort to help them, and your bank won't cooperate, they shouldn't hold you responsible - even if they can. It is bad business for them to do so (no promises of course).
Apr 03, 2011
Rating
starstarstarstarstar 		Call us ASAP.....
by: Kevin - Tower Genius

We can not provide legal advice but we can review the deal. We do have a major point to discuss with you that you need to be made aware of and it may help you. Please call us.

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 American Tower Lease Questions and Answers.

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.

  

Tower Genius is USA's Premier Cell Tower Lease Coaching and Consulting Firm. Find out how we help landlords and property owners in the USA maximize cell site lease values and get the best possible terms. Book a 30-minute discovery consulting call with Kevin or Steve Today.

Click Here To Schedule A 30-Minute Discovery Call.

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


Like this page? Show us some Social Love. Here's how.

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.