Cell phone tower payment

by Lacey Patterson
(Lebanon, TN.)

We are currently looking and making an offer on a house that has a cell phone tower (Verizon) on the back of the property. We were told that this January, a contract was signed between the land owner and the cell phone company. Now that this owner is selling the land, is that 55 year contract still good, or since the signed of the contract is no longer owner of the land? Want to know what we are getting ourselves into before making such a large offer on a home and having 30 year mortgage and having to abide by a 55 year contract. There is no separate easement for the company to use the tower, they literally use the driveway to the house. When you get to the house, the driveway continues back to the tower, so they literally use what may be OUR driveway. So doesn't seem fair for new owners to get NOTHING in return and having to let these large trucks come and go. We are looking at land in Watertown, TN. Not sure if the laws/rules on this type of thing varies from state to state or county to county or cell phone company to company to company. Looking for some help/answers! Thank you for your time!!!

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Jan 02, 2017
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Did you get a title report?
by: Stephen

Lacey you need to watch a few things.

Make sure that you find out exactly where their access easement comes through the property.

Make sure that you find out what rent Verizon is paying since you probably won't get to renegotiate this in your lifetime or for a long time. If the deal does not make sense then you might consider walking away.

Make sure that the current owner has not sold the tower lease easement for a cash lump sum and left you with a tower that will still be here for 55 years but that will pay you zero dollars.

That's why you need to see the title report in our opinion.

Tower Genius

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