Foreclosed property / Buyout tower

by Brian
(Yalaha, FL)

I recently purchased a property that has a cell tower on site. The previous owners bought the property out of foreclosure in 2010. When I tried tracking down the cell tower company who operates the tower, I was told the owner took a buy out amount and that I am not entitled to any lease payments ever. Seems silly that I own land with a giant cell tower in the middle of the property and won't be making any money off of it. Help.

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May 17, 2020
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Silly
by: Stephen

Brian it may seem silly but that is why you need to run a title search before you purchase real estate.

You may have seen that some entity built a tower on the land. Then you would have seen that they recorded an easement to sell the rental stream and cashed out.

This happens all the time. You now own the land under the tower with zero benefit and potential liability.

If the property has a benefit to you and other use and you don't mind having the tower on it then it still could have been a good acquisition however.

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