IRP Problems - putting trucks on IRP

Who thought this up?

sounds like a nightmare.

but there are two solutions.

1- merge the two together.

2- is to have a lease agreement for the trucks under B. You have to have this legally anyway.

 

You need to talk to a trucking accountant or attorney .
Sounds like the dmv has no idea what they are talking about .

how do all the companies do a lease purchase or lease on an o/o ?

none of those trucks are titled to the company with the MC #
And a lot of trucks are titled in a trust .
The trucks we lease are titled in a trust from the leasing company.

I found that out when I was getting the Oil changed . Someone came into the waiting room and was loudly announcing :
“Mr Trust , Mr Donlen Trust ! Your truck is ready !”

I didn’t pay any attention to it , since that wasn’t the name of the company I work for .
And the girl was goin person to person and asking , “are you Mr Trust, are you driving the white F-450?”

 

Wait!

Leasing license?

That’s a crock, you need a contract with the one company leasing the trucks of the other company to it.

Leasing is a federally regulated thing, not a state thing, the irp state office recognizes it as a legit means to add trucks onto the irp account and to get apportioned plates.

as for the company scheme, unless you are worth millions and have a good lawyer behind all of it, it may be worth a merge.

 

My truck is in my name. (because I didn't know any better when I bought it) In order to get IRP, I had to lease the truck to my LLC, and carry a copy of the commercial lease agreement in the truck. That's all it took. OOIDA sent me the blank lease agreement, and I filled it out and sent it to the DMV along with the rest of the stuff they required with the application for IRP. Done and done.

 

Had an owner's son who had two trucks, one in his name and one in his wife's name and NJ had his IRP i his name for both but showed the owner's name on the appropriate registrations, might have had a lease and both were leased to the same carrier

 

She’s referring to a lease/loan Company. All you need is a Lease agreement between Co.A Owner of Truck, to Operate under Co. B’s Authority. Pretty Standard Stuff. IRP Needs DOT/MC#s attached to plate. Either Co. Owned equipment. Or another Co. with a Operating Lease agreement. In this case You Own both Co.s Shouldn't matter at all. Simply Leasing Co.A Equipment to work exclusively for Co.B

 

If the truck is in your name and you are the business owner why do you need a lease agreement?

 

I had the same question, along with thinking "this is F'n retarded". An LLC doesn't have an "owner". Even though you formed the LLC, it's no different than leasing onto Landstar. You own the truck, and you have to lease onto the company. Don't even ask me why this is a thing in our cases. Just more red tape. Guys like @Ridgeline will know those answers.