Status Classification: Exempt vs. Nonexempt

Lorman Education Services
Training overview
1.5 hours

Status Classification: Exempt vs. Nonexempt

Status Classification: Exempt vs. Nonexempt

Status Classification: Exempt vs. Nonexempt

Do you know how to respond when someone offers to purchase your cell tower lease? Property owners with a lease for a cell tower or cell antenna on their property routinely receive six-figure offers to buy the lease and future leasing rights. While 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. And unsolicited offers are usually too low - well below typical sales prices. This topic 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). You 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. Such 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 questions of municipal authority, compliance with municipal finance/procurement statutes, prohibitions on waste, and risks of accidently triggering property reverters.

Learning Objectives

  • You will be able to review 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.

  • Who should attend?

    This live webinar is designed for real estate professionals, land owners, accountants, lenders, trust administrators attorneys, planners, directors of development, project managers, government administrators, land use officials, public works and utilities directors, municipal government officials and anyone involved in the buyout process.

    Training Content

    • Cell Tower Sales Basics
    • Financial Underpinnings - Current and Renewal Rents, Revenues From Future Tenants
    • Why and How Lessors Can Raise Rents at Renewal and Amendment Time
    • Legal Structure - Easement, Lease Assignment or Purchase of Property
    • Key Differences in Sales of Leases for Antenna Sites on Buildings and Other StructuresKey Factors on Sales Prices, Terms, Business Risks and Benefits
    • Typical Sales Prices - Why Initial Offers Are Too Low
    • Financial Analysis of Selling vs. Continuing to Lease
    • Payments Over Time – Evaluating Same
    • When Cell Tower Sales Make Sense, and When They Don't
    • New Tenant Revenues - Pros and Cons
    • Purchaser's Financial Strength; Ability to Perform for 50+ Year Term
    • Avoiding Unfavorable Sales Terms That Can Hurt the Property OwnerLegal Risks
    • Lease Terms That Impair or Prevent a Sale
    • Addressing One-Sided Deal Documents
    • Evicting Purchaser for Nonpayment, Nonperformance
    • What if Purchaser's Lenders Foreclose?
    • Bankruptcy Protections
    • Insurance Provisions for a 50+ Year Deal
    • Buyer Compliance With Building, Safety CodesState and Local Government Issues
    • Dillon's Rule, Governmental Authority for a Sale
    • Property Specific Restrictions, Reverters
    • Municipal Finance, Bond Issue Risks
    • Procurement, Waste IssuesDrafting and Counseling Issues
    • Business Pros and Cons
    • Visualizing the Deal (Ground Level Sites; Building Sites)
    • Getting Multiple Offers via a RFP Process
    • Reimbursement of Property Owner's Legal Fees and Other Transactional Fees
    • Dealing With Objections From Existing Site Tenants

    Costs

    The cost of this Status Classification: Exempt vs. Nonexempt live webinar is $219 per participant.

    Provider: Lorman Education Services

    Lorman Education Services

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    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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