Any OOH operator knows that life is so much easier when you do your homework before entering into leases or purchasing real estate . Insider reached out to Tower Title Co-Founder and CTO Kyle Perry and asked about why title insurance should be added to your tool box.

Kyle, How does title insurance protect an out of home company which is about to buy land to erect a billboard?

When an out of home company purchases land, that acquisition transfers whatever the seller actually owns. This can differ from what the seller claims they own, and even what the deed appears to establish. An owner’s title review reveals during due diligence what a buyer is walking into, allows us to proactively address any issues before closing, and the title policy stands behind the buyer if an undiscovered issue arises later.

During search and examination, Tower Title reviews the chain of title, tax records, judgements, liens, and easements that could impact an out of home company’s ability to construct a billboard in the desired location. Title findings that may have been inconsequential in commercial or residential development could have a meaningful impact on out of home investments. With Tower Title’s deep industry experience, we work to resolve these issues and find a successful path to closing for our clients.

A title insurance policy can protect the investment, by covering the cost of the land, as well as losses associated with investments in the structure, permitting, and lost revenue due to a disruption in ownership rights.

How does title insurance protect an out of home company which is about to enter into a lease for a billboard or an easement for a billboard?

Entering a lease or easement for a billboard comes with many of the same risks as purchasing land. Tower Title can help ensure that the parties involved have the authority to enter a lease or grant an easement, and surface any title issues that may impact an out of home company’s ability to operate the billboard successfully.

Tower Title also reviews where the lease or easement interest sits relative to everything else recorded against the parcel. A foreclosure on a mortgage recorded ahead of the lease or easement can wipe out billboard rights entirely, and it’s often a solvable problem when identified before closing. Recorded covenants restricting signage, competing sign easements, and gaps in legal access that would obstruct maintenance can all come into play whether a company is purchasing the land, an easement, or entering a lease. Title review surfaces these issues early in diligence, and the insurance policy protects these interests after closing.

What should an out of home company do if it wishes to learn more about Tower Title’s services?

You can email us at hello@towertitle.com, Visit our website at towertitle.com or call either Kevin Bradley at 401-829-6211 or Amy Watkins at 401-323-9176.

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