type of lease

by frank
(ft lauderdale fl usa)

Do you know what a petrified lease is ? I am looking to buy commercial land which has a cell tower and the owner says he got a one time payment and has a petrified lease . Any help would be appreciated.

frank

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Nov 17, 2015
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Perpetual lease
by: Stephen

I think you misunderstood, it's a "perpetual lease" or "perpetual easement". The owner sold their revenue stream in perpetuity on the cell tower to a third party lease buyout firm or to the carrier. They will never pay you any rent. Is the commercial property is still a good deal with a non paying cell tower on it? Or maybe you can negotiate a lower sales price for yourself?

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