Cell Tower Lease

[Joey Hall]

I have acquired a piece of property that has an existing cell tower on it. The previous owner had already sold the lease about 10 years ago for a lump sum payment. I have requested a copy of the lease. From what I understand new carriers have been added to the tower since the lease was sold. I have been told by some people that the lease being signed over would only cover existing cell services at the time. Is this normal practice when selling a cell tower lease or was I misinformed?

Is there specific language I could look for in the lease agreement that would let me know if that is the case? Any help/guidance appreciated, I have never dealt with cell towers before.

Thanks,

[Ronald Rohde]

You have to read the lease. How many years are remaining? A copy should have been delivered at your closing.