Tractor Talk Discussion Board |
WARNING-leasing equipment
[ View Follow Ups ] [ Post Followup ] [ Return to Forum ]
Posted by steve ulrey on September 14, 2001 at 13:21:45 from (12.35.97.179):
Here's a warning to anyone thinking about leasing their equipment to another person. My grandpa leased a tractor and some implements to his tenant on a 4 year contract with a purchase option on the 4th yr. The tenant only made a partial payment on the 4th yr. and then filed bankruptcy. The bank took the tractor since it was worth the most. Grandpa has since died and the lawyer handling the estate is incompetent. After fighting bankers and federal bankruptcy trustees all week, we are finally going to get the balance due on the contract. If you lease anything, make sure all serial numbers are on the contract and the contract has been recorded at your county courthouse. If you have a tenant that is close to bankruptcy, get rid of him quick.
Follow Ups:
Home
| Forums
Today's Featured Article -
The Rescue of a Fordson F - by Anthony West. Introduction I live in the UK and have for many years restored Fordson tractors (in the main model N's). I have also restored and shown model F's, E 27N's, Field Marshall Series 2, David Brown Cropmasters and the old rey Fergeson T 20. At one time I had seven restored examples which were shown and used in ploughing matches. As most restorers, I have a number of war stories I can relate on a range of topics that may help other like minded and interested people. Perhaps my first p
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
Copyright © 1997-2024 Yesterday's Tractor Co. All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V. Yesterday's Tractors - Antique Tractor HeadquartersWebsite Accessibility Policy |
|