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Transfer ownership of inactive MC?

Discussion in 'Ask An Owner Operator' started by Jrhtransport, Nov 30, 2021.

  1. Nov 30, 2021 #1
    Jrhtransport

    Jrhtransport Bobtail Member

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    Oct 9, 2021
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    My first post, so be gentle.

    I was an owner op in PA from 2012 to 2018, then voluntarily deactivated my authority to reorganize my life. Now, I live in AZ and have a pretty cushy company driver job.

    I have a friend who owns a Ram 3500 and just bought a 48' gooseneck and would like to get into commercial hauling with it. Now, I understand it takes 4-5 weeks to establish a new authority, and he is trying to get hauling asap. We brainstormed about me reactivating my authority and he lease onto me, but wouldn't that require 2 separate insurance policies? And I don't own a truck myself.

    BUT, would it be possible to just reactivate it under his business name instead? Of course he would need a new DOT #, but I understand that could be acquired same day. If I reactivated the MC myself, I would need to change my business name and address anyway...

    Let me know what I'm missing here. Thanks!
     
    Jrhtransport, Nov 30, 2021
    Jrhtransport, Nov 30, 2021
    #1
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  3. Nov 30, 2021 #2
    Dino soar

    Dino soar Road Train Member

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    Dino soar, Nov 30, 2021
    Dino soar, Nov 30, 2021
    #2
    Jrhtransport and brian991219 Thank this.
  4. Nov 30, 2021 #3
    Concorde

    Concorde Road Train Member

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    I reactivated mine recently and it still took $300 plus a month of waiting..fwiw
     
    Concorde, Nov 30, 2021
    Concorde, Nov 30, 2021
    #3
  5. Nov 30, 2021 #4
    Jrhtransport

    Jrhtransport Bobtail Member

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    Oct 9, 2021
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    Oh wow. I was seeing on the FMCSA website it should only cost about $80 and take 4 days. But I knew that seemed to good to be true.
     
    Jrhtransport, Nov 30, 2021
    Jrhtransport, Nov 30, 2021
    #4
  7. Nov 30, 2021 #5
    brian991219

    brian991219 Road Train Member

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    Aug 10, 2013
    Lords Valley, PA
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    Reinstatement is fairly quick but ownership transfer can be held up. Ypur friend is better off just getting a fresh authority, average turnaround time is 23 days (may be a bit longer right now because of end of year holidays).

    Reinstatement and name change will lead to many questions with brokers and other customers, many will presume something shady is going on.

    Lastly, to do a reinstatement the insurance will need to be in place before applying and it can be tricky if there will be a name change associated with the transfer of ownership.

    Really there will be about a 14 day difference and a much cleaner setup if they were to get their own numbers fresh from the start.
     
    brian991219, Nov 30, 2021
    brian991219, Nov 30, 2021
    #5
    Jrhtransport and Dino soar Thank this.
  8. Nov 30, 2021 #6
    Concorde

    Concorde Road Train Member

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    West Melbourne Florida
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    I should clarify so I don't give you misinformation.
    Tho years ago I applied and was given a DOT# but ended up not activating it.. Fast forward to now..I decided it was time to activate it because insurance costs decreased a lot. I called FMCSA and was told I only needed to pay $300 and to wait two weeks before I purchased the insurance.

    Possibly the process is different because yours was previously activated?
    Sorry for any confusion.
     
    Concorde, Nov 30, 2021
    Concorde, Nov 30, 2021
    #6
    Jrhtransport Thanks this.
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