All Forum Posts by: Bryce Kuhar

Originally posted by @Shane H.:

So many factors.... this is going to require the assistance of an attorney to answer. I would mean toward Lamar still owning the structure, and possible still subject to the lease. That said, is there a reason you want to get out of the lease? I personally would much prefer to collect my land lease payment and not mess with running a billboard myself. You plan on climbing up there and hanging those giant vinyls? Lol

It would be more work, but it sounds better than getting the standard percentage for billboard leases. (15-20%)

So the lease is not automatically terminated even though the contract with the county states it's "free and clear of any and all encumbrances"?

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