I am refering to the DOT permit required under federal law, not local permits. I have one property owner were my lease is comming due in serveral months. He wants me to transfer ownership of the permit to him for free. I am assumimig he wants to then sell the permit. I own the billboard and can remove it. I will not transfer ownership of the permit. My question is can I retain ownership of this permit if I do not let it expire to hold this location for future use in case the property is ever sold. This location is a cotten area along an interstate and they are limmited in this area.
In most states, the permit “runs with the sign structure” and is lost when the sign is removed. But I would ask your DOT since the definitions are different in every state.