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| Ownership or lease? https://www.rypn.org/forums/viewtopic.php?f=1&t=1841 |
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| Author: | Stan Essler [ Fri Jun 22, 2001 8:40 am ] |
| Post subject: | Ownership or lease? |
Does anyone have any experience with a non-profit group having a long-term (10 years or more) lease with an individual on a locomotive or a passenger car? How did it work out? How did you structure it? toaster62@yahoo.com |
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| Author: | Dave [ Fri Jun 22, 2001 5:35 pm ] |
| Post subject: | Re: Ownership or lease? |
Several years ago, the military historians who had the Savannah roundhouse dropped into their laps made some very loose open ended agreements with private individuals which has resulted in the presence of a very decrepit caboose and an irreperable hulk of a locomotive which has no relevant heritage to our mission or potential use occupying valuable real estate and trackage. I wouldn't encourage any group to do such things in the absence of very well written agreements which provide for risk and liability assignation, maintenence and other cost coverage, perhaps bonding to cover eventual removal cost, and renogiation clauses should the desireablilty of the lease change. I wouldn't want to lease anything except to fill a real void in a collection or for other compelling reasons. It isn't real practical and terms can be misunderstood easily if not carefully written. Dave irondave@bellsouth.net |
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