ANY MC DOT FOR SALE

Let me ask you a question...What about an LLC? Can you sell that or do you just sign it over with all of the assets and numbers?

 

An LLC is exactly what I sold. The MC and DOT went with it. No assets but about 150 BCAs. It was a "paper only" sale. There's absolutely no record of the transfer nor anything connected to me if you were to go to Safer and pull the info. Obviously, I can prove I once owned it all but to anyone else they would never know the transfer took place.

 

So basically, the guy paid you and you went to your Secretary of State site and replaced your name with his? Then you gave him all of the login credentials, etc. and you were done with it? I guess the hard part was you deleting your name from FMCSA and any other entity associated with your company so you wouldn't be liable if the buyer did anything wrong?

 

Once we both signed the contract and payment was made he went right to the state and changed it all to his business name.

Gave him all the access for anything he wanted but I wasn't immediately done with it. I'm still around for any unseen loose ends types of things he may run into and I'll get a little more money paid for my efforts at a predetermined date.

Once he had access to Safer and a signed contract with the state LLC matching him he simply had the FMCSA update the information essentially. Probably didn't take more than 15 minutes via their chat option and a couple uploads to their document storage cloud.

I'm pretty sure he even took over my commercial insurance policy to keep that information and policy number also listed on Safer.

 

That’s exactly right. You sell the LLC. Assets and Liabilities go with the LLC, ( unless personally guaranteed by you, like a Truck with a loan). I was a signature away from selling mine. Had transferred my paid off Truck and Trailer from company name to my name. The prospective buyer got very pushy, and I backed out, gave him his $1000 deposit back. His motive was to keep my low priced insurance, hoping to only do an address change, under the radar. He was responsible for his accountant’s fees. Guy was a jerk.

 

You were smart not to make that move because your business is worth more than most people think.

 

So that's it for you? Are you out of trucking?

 

I'm 75 percent certain I won't be driving anymore but I have 27 years in the industry and it would be a shame to throw that away so I'm contemplating dispatching or administrative work.

Frankly, I can do many things for a living and might even grow my service truck into a new mobile repair business. Just don't know if I want all the hassles of business ownership again.

 

I am a Canadian carrier Ontario corporation with 12 year old usdot and mc. Can I port it to Texas LLC.

 

Show it then .What chapter and paragraph in the fmcsa rules allow the transfer or sell of a dot number you will never be able to do that . I personally don’t think you have ever had your own authority for you not to understand you can’t sell or transfer dot number to a different owner.Again post the chapter in the fmcsa where it says you can.