Cutting down trees without permission can get you into trouble. That’s the lesson of Blust v Lamar Advertising. Here are the facts. In Sept 1988 Lamar leased land for a billboard in Miami Ohio Township from James Weber. John and Jean Blust owned the land adjacent to the billboard site. […]
By Richard Rothfelder, Rothfelder and Falick Insider has published articles on providing prospective buyers of property encumbered by signs and leases with actual and constructive notice of the outdoor advertiser’s interests and including notice of the right of first refusal in billboard leases. Insider brought to my attention a […]
Insider recommends a right of first refusal clause in your leases to prevent Landmark Infrastructure or a competitor from suddenly becoming your landlord. Here’s a pretty thorough right of first refusal clause which Insider inherited in a billboard lease assigned to his company. Right of First Refusal: If, during the […]
You can protect your billboard leases from being extinguished by a non-governmental foreclosure by recording your leases or easements. Government foreclosure for unpaid taxes is another matter. Read this risk disclosure on page 7 of the rating documents for the $505 million Adams Outdoor debt issue: “If the fee simple […]
Be reasonable when you lose a lease or it may cost you. That’s the lesson of M&M Media and Ace Outdoor Advertising versus Regency Outdoor Advertising. Here’s a summary of the case. Regency Outdoor Advertising and M&M Media Group signed a lease for a billboard atop a building in Los Angeles. […]
What end of term language do you put in your billboard leases? Insider reviews the bad, the good, and the best options. Bad. A firm stop. “This Lease shall be for a term of 20 years commencing on the date shown below.” Insider doesn’t like firm terminations. They give the […]
Many out of home leases require lease payments annually in advance. Is prepaid rent recoverable if a lease terminates early? Not unless you have a refund clause. That’s the lesson of Eujoy Realty v Wagner Communications. Here are the facts: In 2000 Van Wagner Outdoor signed a 15 year lease […]
