Buying a property with a cell phone tower with a sold lease

by Brendon L
(Binghamton, NY)

I am looking a purchasing a property that has a cell phone tower located on it. I have been told that the lease for the tower has been sold.

If I purchase the property, what are my options in regards to the tower/lease? Do I have any?
Thanks

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Feb 17, 2015
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by: Stephen

You can enjoy the aesthetics if it's a stealth tower design. If the lease has been sold in perpetuity there's nothing you can do. And you also may be on the hook for the extra taxes and insurance liabilities so you should try to find out from the tower company what you are potentially on the hook for. Unless the buyout was for a set period of time, you are probably going to have zero benefit from it.

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