Billboard on Tax Foreclosed Property

[Bryce Kuhar]

I am looking for some insight as to what the possible scenarios are in this case. 

I am purchasing a commercial property directly from the county who is in the process of foreclosing on the property for extremely delinquent taxes. There is a billboard situated on the parcel. From doing some research, I found the land under the billboard is leased by the advertising company Lamar and the billboard itself was erected by Lamar. The county states I will receive the parcel "free of any liens or encumbrances". I can only assume this means the lease between Lamar and the current property owner will be cancelled through the tax foreclosure process. What I am curious about is the actual billboard structure itself. If the lease is cancelled through the tax foreclosure, meaning Lamar no longer has the right to the land under the billboard, will I own the billboard outright or is it still Lamar's asset and they have the right to take it down?

Seems like a tricky subject and would appreciate any advice.

Thanks,
Bryce

[Wayne Brooks]

@Bryce Kuhar

I’m not so sure the lease gets cancelled in a tax sale.  You also haven’t said what state this is in....no one knows the answer unless they are versed in that state’s laws concerning tax sales.  I would assume a company like Lamar would have their lease recorded also.