Answer
Apr 18, 2020 - 03:55 AM
Hi,
The estate's personal representative will need to contact the lessee (tower company or wireless carrier) and request a copy of the lease. The lessee will not give it to a prospective purchaser of the underlying property without the authorization of the property owner (or its representative in the case of a death).
You won't be able to renegotiate the lease to a higher lease rate unless it is close to expiration. The sale of a property doesn't give rise to the opportunity to renegotiate.
Alternatively, once you have closed on the property, you can contact the lessee with a copy of the deed and they can then send you a copy of the lease.
Either way, you should also have your attorney check the clerk of court records to confirm that the lease wasn't sold at any time. If it was, an easement or an assignment of lease would have been recorded. If they did sell, you won't be receiving any revenue from the lease or have the ability to renegotiate.
Hope this helps.
Ken
The estate's personal representative will need to contact the lessee (tower company or wireless carrier) and request a copy of the lease. The lessee will not give it to a prospective purchaser of the underlying property without the authorization of the property owner (or its representative in the case of a death).
You won't be able to renegotiate the lease to a higher lease rate unless it is close to expiration. The sale of a property doesn't give rise to the opportunity to renegotiate.
Alternatively, once you have closed on the property, you can contact the lessee with a copy of the deed and they can then send you a copy of the lease.
Either way, you should also have your attorney check the clerk of court records to confirm that the lease wasn't sold at any time. If it was, an easement or an assignment of lease would have been recorded. If they did sell, you won't be receiving any revenue from the lease or have the ability to renegotiate.
Hope this helps.
Ken
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