I am in the process of renewing several billboard leases on my property which fronts a major Florida interstate. How do I retain those leases for myself in the event I sell the property they sit on. Would it just be an agreement between the potential land buyer and myself or would it need to be specifically stated in the lease agreement with the billboard co. or does the lease legally automatically transfer to new land owners? Is 50% + of gross income for 10 years reasonable, seeing how in Florida construction of new billboards is illegal and once structures are removed, that's the end of them they cannot be re-erected anywhere in the state.
Thank you for your help!

Hello vito:

You need a lawyer. We deal mostly with residential landlord tenant matters.

excon

If you want to sell the property but retain the billboards, why would someone buy the property? Unless there is much more to the property then the strip on which the billboard sits, the only value to the property would seem to be the billboards.

If there is more property then you have two options. You can subdivide the property, retaining a small strip fronting the highway and sell the rest. Or you can sell the property intact, but retain an easement permitting you to maintain and manage the billboards.

The point is that ANYTHING can be written into the sales contract when you sell the land. But you NEED to retain an attorney to make sure your rights are protected.