We are all familiar with commercials and ads warning real estate owners (“Owners”) of title theft. What is described as title theft occurs when a fraudster forges an Owner’s name on a deed transferring real estate to themselves, later mortgaging or selling it to acquire money.
In a Solar Panel Purchase Agreement (“PPA”), a developer (“Developer”) finances and installs solar panels on an owner’s (“Owner’s”) property and stipulates that the Owner use the electricity generated which is often cheaper than the rate charged by utility companies. PPAs often serve as opportunities for Owners to save money on energy.
It is increasingly common for landowners and building owners (“Owners”) to be approached by a developer (“Developer”) interested in executing a “solar land lease” (“Solar Lease”) or a “solar power purchase agreement” (“Solar Power Purchase Agreement”). Solar Leases allow for a Developer to install solar panel systems on an Owner’s property in exchange for payment. Conversely, in a Solar Agreement, the Developer finances and installs solar panels on an Owner’s property and stipulates that the Owner use the electricity generated which is often cheaper than the rate charged by utility companies.
Welcome to In the Dirt: Real Estate Legal Update where attorneys from Amundsen Davis blog about all things related to real estate, zoning, real estate management and finance.
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