If you are buying a property with a cell tower on the land, make sure you know exactly what you are undertaking when purchasing the property. There could be a number of things you may not be privy to with regard to the status of the cell tower and its corresponding lease. Before you buy, make sure you are aware of any matters regarding the lease that could affect you, for example the completion of a cell tower lease buyout prior to you closing on the property. If the current property owners are attempting to not only sell you their land, but also the parcel of space on that land to their telecom tenants, do not sign any closing papers until you know the consequences. If you purchase land housing a cell tower with a lease that was previously sold, you have no right to any revenues produced from that tower.
Also, there is the issue of perpetual easement on the property meaning tower inspectors will be entering your property when they see fit to do so. Buying a property with a cell tower on it can be beneficial, but could also be a detriment to your financial stake in the property. Contact Vertical Consultants today to learn how you can avoid any issues related to purchasing land with an existing cell tower.
