cell phone tower bank owned property

by Donelle
(Armada, MI USA)

I would like to know if there is any options for a tower that is on a piece of bank owned property. The lease seems to still be in the name of the person that foreclosed on the property. My father is trying to purchase the property, is there any way to get the lease to go back to the property owner? Once he has purchased it. Thank You!

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Mar 09, 2011
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Bank owned cell tower lease
by: Tower Genius

Donelle, just as if you purchased a foreclosed apartment building with tenants renting multiple units once you purchase the building, they should transfer to you, the new owner. Just make sure that the previous owner did not sell the lease cash flow to a buyout company before you purchase it. They bank should be able to tell you who is collecting rent currently. Chances are that when someone is in financial trouble a bank would not allow them to sell the cell tower lease unless they used it to pay down what they owned on their mortgage.

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