The cell phone tower lease buyout is a lease prepayment that comes in the form of a lump-sum amount that the cell tower carrier gives to the property owner. Most companies prefer to rent out spaces to set up the tower instead of buying the land. This setup is more economical for the companies as they do not have to invest heavily in buying real estate.
The lease buyout is similar to other types of real estate matters. It follows a contract between the landowner and the cell phone carrier. Once the agreement is complete and goes through the land registry, it becomes binding on both the owner and the tower carrier who will set up the tower.
The contract is a cover for all parties. Under the stipulations of the lease, the payments and the right to use the premises remain binding. If there is a change of property ownership, before the contract expires, both parties will have their rights according to the lease terms.
