John Pestle and I will once again present an updated version of our very popular lease buy-out lecture, “Selling Your Cell Tower Lease.” This time we’ll present on April 9th, 2014 at 1:00 p.m. EDT/10:00 a.m. PDT. Lorman Education Services hosts many of the lectures John and I present, and they do an outstanding job at it.
Here’s the updated lecture description:
Property owners with a cell tower or cell antennas on their property routinely receive six-figure offers to buy the cell tower lease and future leasing rights. While very attractive, those offers-typically structured as perpetual easements-pose unusual legal, financial, and technical risks that the property owner and its regular attorney typically are not familiar with. This live webinar will guide property owners and their attorneys as they evaluate and respond to such offers. It includes covering what drives the offers, typical prices, how to evaluate financial terms to determine whether selling makes sense (and when it doesn’t). Those who attend will be better able to evaluate purchase offers, identify and modify the very one-sided documents offered by purchasers, and address some of the risks involved in a sale. Risks include making sure the property owner is not hindered in developing or using its property, ensuring that future sums promised by the purchaser in fact are paid and the contract honored (and the sale terminated if they are not), insurance and bankruptcy protections, as well as questions as to the financial solvency of the buyer. These risks increase as the easement term increases (typically from 50 years to perpetual) given that the property owner continues to own the underlying property. Government agencies face all of the preceding issues, plus special and fundamental questions of municipal authority, compliance with municipal finance/procurement statutes, prohibitions on waste, and risks of accidentally triggering property reverters.
Learning Objectives:
– You will be able to know when a sale does and does not make sense for you.
– You will be able to discuss revising documents to protect property owner and address the preceding issues.
– You will be able to recognize sales terms preventing the property owner’s future use or development of its property.
– You will be able to define the major legal risks involved in selling cell tower leases and easements.
CLE, AIA, AICP, ENG, and PMI professional credits are available for this lecture. For more information, please visit http://www.lorman.com/live-webinar/393475
