Go Back   iRV2 Forums > iRV2.com COMMUNITY FORUMS > iRV2.com General Discussion
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
Thread Tools Search this Thread Display Modes
Old 06-23-2015, 07:32 AM   #57
Junior Member
Join Date: Jan 2014
Location: St Louis , Mo.
Posts: 21
Originally Posted by bamaboy473 View Post
That is covered in co-ownership agreements that are well-thought-out.

In ours, it was all about paying when we're supposed to pay, to pay penalty if late, to have X number of days to correct a default, and finally, to give up ownership interest at a fire-sale price if we elect to.

Quit-claim documents signed by each partner at the onset allows things to proceed pretty easily if it comes to that.
Thank you,
Can you send me the sections on late penalty and the quit - claim documents of your agreement? This maybe useful to be added to ours.

My email address is: aptao55@gmail.com

Thanks again.

gomango is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 06-28-2015, 10:11 AM   #58
Senior Member
bamaboy473's Avatar
Join Date: Jun 2014
Location: Gulf Coast, Alabama
Posts: 1,830
Originally Posted by gomango View Post
Thank you,
Can you send me the sections on late penalty and the quit - claim documents of your agreement? This maybe useful to be added to ours.

My email address is: aptao55@gmail.com

Thanks again.

Wish I could help you. The last partnership we did was on a boat about 10 years ago and since then, a new computer that didn't retain a lot of documents that I thought I'd never use again.
FWIW, make up what you think you want to say, then pass it by your attorney for his/her blessing. The fewer words the better, and all in English, not lawyer-speak.

As I recall, a late penalty was due when a due payment was late by a certain number of days. Past-due plus penalty had X number of days to correct the defect; after which the late payer was put on a 30-day notice to either pay the amount (plus another late fee = to the cost of the attorney that drafted the Demand note) or risk default and forfeiture of his interest.

Quit Claim deeds were signed at the inception and kept by the attorney. They were supposed to make transfer of ownership title smooth with DMV.

It was simple business; nothing personal about money. That said, this little concept might be what gets so many partnerships sideways in the first place. It can't be personal where money is concerned.

Rick and Sandy
2003 American Eagle, 52K miles
bamaboy473 is online now   Reply With Quote
Old 07-06-2015, 08:05 PM   #59
Senior Member
Join Date: Dec 2014
Posts: 287
Generally, very bad idea.
AbdRahim is offline   Reply With Quote
Old 07-06-2015, 09:35 PM   #60
Senior Member
Ray,IN's Avatar
Join Date: Aug 2001
Location: North America somewhere
Posts: 13,897
I know a man who once bought a used class A MH with 4 other men. Thinks went well for about 3 years. Then, when the MH needed new tires and other major expenses, some of the men wanted to buy the cheapest tires available, while the others wanted to buy Michelins, same strategy for the other major expenses.
The partnership fell apart, and none of them are now friends.
2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA 1SG, retired;PPA,Good Sam Life member,FMCA."We the people are the rightful masters of both the Congress and the Courts - not to overthrow the Constitution but to overthrow men who pervert the Constitution. "Abraham Lincoln"
Ray,IN is offline   Reply With Quote
Old 07-06-2015, 10:13 PM   #61
Senior Member
Mr_D's Avatar
Winnebago Owners Club
Solo Rvers Club
iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 31,225
Originally Posted by Ray,IN View Post
The partnership fell apart, and none of them are now friends.
Yep, best way to ruin friendships is over money!

2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft
Charter Good Sam Lifetime Member, FMCA, SKP
RV'ing since 1957, NRA Benefactor Life, towing '14 CR-V
Mr_D is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Purchase agreement wording KnightsWatch 5th Wheel Discussion 11 11-26-2014 10:38 AM
Is that part of ownership? Cabinfever Newmar Owner's Forum 16 11-14-2014 06:59 AM
Annual Cost of Ownership craig.sayre Class A Motorhome Discussions 6 07-24-2014 08:29 PM
DW & I in agreement our choice for our next FT 5r will be..... Kro1957 5th Wheel Discussion 22 01-30-2014 10:07 PM
Bipartisan Budget Agreement Hooligan Military / Veteran RVing 14 12-14-2013 01:49 AM

» Featured Campgrounds

Reviews provided by

Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 04:41 AM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.