I did the "OR" on a previous plane with a partner. Partner died,
During the long time it took trying to get the title transferred to me and after thinking everything was ok, I went to my hanger one day to find out the lock had been changed. You see my partners survivors, (wife and son) ( I am sure their attorney too) got to talking and when the word airplane was mentioned over a period of several conversations and months, they suddenly began to feel that any airplane was worth a lot of money. So hence, this airplane was worth a lot of money. So they demanded I pay to them much more then what the plane finished was worth, not to mention that the plane was not finished when he died. By the way I finished it after he died. The thing that really makes me mad. They ended up selling the plane to a guy for less then what each partner had into it. Which was by the way, about a fifth of what they demanded for me to pay them. Also, by the way, these where people, that I thought I had a great friendship with. His wife actually cried on several occasions as she told me she knew her husband wanted me to have the plane because he knew I would carry on and finish it. I am making this to long. Bottom-line, I was out an airplane, all the money I put into it and of course time and effort, hanger fees, so on and so on. I will only put " OR" on the title with a survivor, wife or son, all others will be "AND" because money and lawyers will always get in the way, regardless of right and wrong. Oh, and the guy that bought it from them. I thought he was a friend too. Jeff York N839BG Lexington KY. http://web.qx.net/jeffyork40 ----- Original Message ----- From: "Ron Smith" <mercedesm...@yahoo.com> To: "KRnet" <kr...@mylist.net> Sent: Friday, January 07, 2005 12:25 PM Subject: Re: KR> Registration Form > > > Dan Heath <da...@alltel.net> wrote: > Jerry and I have decided to register N64KR to Jerry Mahurin and Dan Heath, > not a "legal" partnership, just two individuals with joint ownership. I have > two questions. > > Should it be Jerry Mahurin AND Dan Heath or should it be Jerry Mahurin OR > Dan Heath? > > Hi Dan, > > I am a Finance Manager at a dealership here in Calif. I think most states would be the same, in that, if you choose "and", it will require both of your signatures to tranfer tiltle and registration of the vessel. If you choose "or", then either of you can sign to tranfer title and registration. > > The problem that can arise with each of these choices are these. 1. If you choose "and", if one of you dies, it will be difficult for the other living partner to transfer. 2.If you choose "or" the other partner can sell the vessel out from under you. > > If you have a good relationship with one another, "or " would be the better choice. IMHO. > > > > Ron Smith, > > Boat stage Kr2S > > Cypress Ca, > > mercedesm...@yahoo.com > > _______________________________________ > Search the KRnet Archives at http://www.maddyhome.com/krsrch/index.jsp > to UNsubscribe from KRnet, send a message to krnet-le...@mylist.net > please see other KRnet info at http://www.krnet.org/info.html
