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| Locomotive ownership proof https://www.rypn.org/forums/viewtopic.php?f=1&t=30447 |
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| Author: | arjay3 [ Thu Nov 18, 2010 11:00 pm ] |
| Post subject: | Locomotive ownership proof |
Major railroads apparently register the purchase of new locomotives with the ICC (or STB). Do any museums or historical societies register locomotive transactions or ownership or is a Bill of Sale good enough? Rich |
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| Author: | filmteknik [ Fri Nov 19, 2010 10:02 am ] |
| Post subject: | Re: Locomotive ownership proof |
Well, first off, do locomotives and rail cars , especially old ones, have titles? Steve |
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| Author: | Mike Tillger [ Fri Nov 19, 2010 10:19 am ] |
| Post subject: | Re: Locomotive ownership proof |
Titles are not necessary unless the government wants control in case you do not pay a tax or license fee, i.e. sales tax on a vehicle. A bill of sale is your proof of ownership, you used to register equipment trusts under the old ICC for accounting purposes, not sure if that still applies with the STB. The only registration I am aware of is UMLER, and only if you plan to move your equipment over the general railroad system. |
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| Author: | Alexander D. Mitchell IV [ Fri Nov 19, 2010 10:34 am ] |
| Post subject: | Re: Locomotive ownership proof |
The best laugh I had along these lines was the time I rang up a friend of mine after hearing some rumors, and said, "So, [name], do you want to confirm or deny that you now own [particular diesel]?" "Well, that depends. Do you want to make me an offer for it or hand me an overdue bill?" |
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| Author: | Ed Kapuscinski [ Fri Nov 19, 2010 11:17 am ] |
| Post subject: | Re: Locomotive ownership proof |
Mike Tillger wrote: Titles are not necessary unless the government wants control in case you do not pay a tax or license fee, i.e. sales tax on a vehicle. Yes Mike, I am certain that's the whole reason they exist and are used. |
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| Author: | SZuiderveen [ Fri Nov 19, 2010 1:36 pm ] |
| Post subject: | Re: Locomotive ownership proof |
Mike Tillger wrote: Titles are not necessary unless the government wants control in case you do not pay a tax or license fee, i.e. sales tax on a vehicle. A bill of sale is your proof of ownership, you used to register equipment trusts under the old ICC for accounting purposes, not sure if that still applies with the STB. The only registration I am aware of is UMLER, and only if you plan to move your equipment over the general railroad system. It still applies under the STB. The process seems to be well explained here: http://www.natlawreview.com/article/what-does-surface-transportation-board-stb-filing-tell-you Steve |
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