A cell tower lease is essentially an agreement between two parties; a landowner who already has space for the installation of cell phone equipment and an alternative cellular company like AT&T, Verizon, T-Mobile, or Sprint. Occasionally the agreement is with the landowner alone, for instance, while in other instances, it is with a cell phone company like AT&T or Verizon. In some cases, there is a co-mobile agreement in place that allows one company to take over the contract. This is especially common in mobile oil change shops and sometimes applies to mobile casinos and air conditioners. The property owner, or whoever is leasing the cell towers, signs the contract with the cellular company.
A land trust is a viable estate planning option for owners of multiple units because it can allow them to lease the land to the Cellular Provider for a fixed term and set their royalties.