Selling the Real Estate and keeping the Cell Tower
I have a buyer for my property. He is willing to exclude the cell tower lease from the sales agreement so I can keep the revenue stream. And grant me an exclusive easement so if I want to sell it later to a tower co I can. I thought this made sense for me. Because I need the revenue stream. This is an asset he is not paying for in the real estate transaction.
However American Tower who owns the cell tower has informed me that once title pases to the new property owner. The rights to the tower passes to him. Meaning, I can continue to collect rent. But a few years or so later, if, I want to do a cash buyout, It has to be done thru the new property owner and he has to sign all documents. At this point you have another party involved and this party also will want half of the proceeds or he won't sign.
Is this true or just American Tower?????
Contact a Telecom Lease Lease Genius Today.