equitable way to purchase and/or share implements with neighbor

jimh406

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I wouldn’t coown equipment, but I’d consider loaning implements to neighbors that work on common projects for the good of the all of us. It’s possible to break anything, but those that do usually destroy their own stuff. So, as long as their equipment seems to be taken care of, loaning could be ok.

However, I think it’s like loaning money to friends/family. If you need it back, don’t loan it because some will never pay it back. In the case of equipment, if aren’t willing to take the risk of someone breaking it, don’t loan it.
 
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D2Cat

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Don't ever loan money to a friend until you decide which one is more important to you.

Same goes for anything of value. You loan someone a chain saw and they put straight gas in it, how upset will you be? Decide before you loan the item.

I loaned a soil conditioner to a fellow OTT forum member a few years ago, and at that time I had never met him. He came up from Arkansas to get it, and bought it back when he was finished. Even installed new bearings on the two rollers! I (and he) new they were bad and didn't really care 'cause it's not critical for what they do and would work fine for his project.

I never doubted the implement would be returned, but if it never showed up life can go on. How an item is treated shows the character of the borrower! (And Daren showed his!)
 
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RCW

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While I would also generally discourage a shared approach, some implements are more maintenance than others.

You mention a flail mower and chipper. Both PTO-driven. Potential to damage both the implements and/or the tractor in their use.

Just thinking of the combined scenario where neighbor “A” damaged implement “1”, which then tore up the rear PTO of neighbor “B”’s tractor.....

Also possible that a PTO shaft that fits the LX may not fit the L....especially if Quick Hitch is involved on one and not the other.

A rear or box blade is almost indestructible. Something like that might be a better choice.
 
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GeoHorn

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You need to decide which kind of person your neighbor is...and what kind of person you are.

If you are the kind of person that values THINGS more than PEOPLE or FRIENDSHIPS.... then don’t loan or borrow anything. Buy or rent what you need and let others do the same.

I have a friend (a Pennsylvania transplant Polish descendant) that used to be my next-door neighbor back in the ‘80s. We both moved out to the country in the late 80’s... about 100 miles from each other. We used to loan/borrow from each other all the time.

I once borrowed a pickup truck and trailer from him and the trucks’ rear tire blew-out and damaged the wheel also. I went to the Tire store and replaced the tire and wheel before I returned the truck.

He once borrowed my pressure-washer and the recoil/pull-starter broke and he had the local small engine shop replace it before he returned it to me. (I was troubled by that because it had broken once on me as well, and it was still under warranty. But he and I are alike in that.... if we borrow something and it breaks... we have it properly repaired/replaced before returning it.)

We went fishing last year on his boat and the swivel-mechanism on the fishing chair I was using broke. He said, “No problem,...I’ll just weld it next week.” However, I saw that swivel part on-sale and bought it and shipped it to him. He emailed/scolded me in all caps “YOU DIDN”T BREAK THAT! IT WAS READY TO FAIL AT ANY TIME! I’m just glad you weren’t hurt!” LOLOL

I’d replace that entire boat before I’d let go of our almost 40-year friendship.

On the other hand, I had a ”best friend” (I thought... I’d stuck by him thru 2 divorces, and was pall bearer for his father, mother, and brother... all the family he had ...taught him to fly and helped him get the job at Delta from which he retired....)... having no other close family, it was I who sat by him when he was ill, or needy, etc etc.... we were close friends for 60+ years ... but he apparently harbored ill will toward me because in 2018 I had refused to illegally sign/witness a document he needed.
My wife and I subsequently went on a 3-month vacation tour of the northwest in our Airstream.
A month after our disagreement, He got sick, went into hospital, and called a distant, almost unknown cousin rather than me when he became worse. That cousin talked him into refusing treatment, going into hospice, and convinced him to leave his house, airplane, money, everything to her... rather than to call me to let me know he was in trouble. He told her to NOT notify me of his illness and death.
He didn’t have anything I wanted. If he’d left anything to me, I’d have donated it all to charity and wouldn’t want to have to clean out his place anyway.
But, .. It’s my very sad judgement that he did not place the value in friendships that I do.

So, ... I suggest that you consider the value of that friendship with whom you are considering co-ownership of property. Which is more important to you? The material value of those implements? Or the value of that friendship...? If that friend damages or destroys that implement... how will you feel if he doesn’t make amends? Can you let that love of property outweigh your relationship? Or does the friendship mean more to you than property...?? Are you willing to overlook transgressons involving property? Or will you miss that at all...
And finally, Is that friendship worth the risk of hurt feelings on implements which likely have relatively small value anyway?
 
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Russell King

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One other option is to split the purchase 50/50 and then one person buys out the other in X months to become full owner. Can ease the need for financing but then again it is creating the money loan/payback problem.

I would not co own implement for very long but but loaning out or swapping out work is better than that to me.
 

B2710

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Never ever has a shared or co-own deal worked out in the end, someone always feels cheated, tried it with brother in law... I never loan anything to anybody... ever, I have too many bad experiences. Most from family, but what I though was a good friend cost me 5k to repair my new truck he borrowed. I also never borrow, was burned by neighbor who asked for my help to get a tractor running and then accused me of breaking their tractor when I drove it to my property to get some run time on it and it died in my yard...

Do what you feel is best for your situation as none of us are you or your neighbor. But there are many experiences on this thread that are not positive... just saying....
 

NCL4701

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All this reminds me of a gentleman’s equipment shed I was visiting quite a few years ago working up a quote for repairs to the shed and couple other buildings. He had just finished soybean harvest. The equipment shed was around 20,000 SF and neat but pretty full. About 45 minutes into it, he realized one of his combines was missing. He was a little concerned so he checked and saw the bean head for it was also missing. He started calling people who might have borrowed it without telling him. Only reason he was concerned was he couldn’t find a note from the borrower in the combine’s empty bay. 2 adult children and 4 neighbors later he found the guy that had a breakdown and borrowed the combine to finish getting his beans in. Owner was OK with it and borrower did apologize for not leaving a note. Dude left the building unlocked and keys in everything. Several of his neighbors and all his kids still farming did the same. Asked him how much the missing combine was worth. He said new, it would be around $750k and current value around $500k. Don’t think I could handle that arrangement.
 
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Fordtech86

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This thread makes me laugh. Only one I trust with my stuff is my 6 year old 🤣.

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I will buy what I need for me. Happy to help others with what I have, but never loan,borrow, co own.
 

nbryan

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If I borrow something and break it I fix it or replace it with like. I expect the same when others use my equipment. I don't borrow from, or lend to, anyone I don't already trust, and then communicate a basic verbal deal.
 

NHSleddog

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I feel bad for you guys with such pathetic friends and families that you can't lend them something or go in on a purchase together.

I have a bunch of co-owned items with friends. Two trailers, a jeep, a welder, multiple tools etc. ***

Its just stuff. Live and learn.


*** EXCEPT the Kubota. I will donate my time, never the tractor.
 
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random

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I've generally given up on lending much of anything. Even books. There are a couple books I tend to encourage people to read - so for those, I've taken to keeping a bunch of copies on hand and giving them away. If they happen to come back, that's a bonus.

Never end up disappointed that way.

Sadly, it's even been family that's let me down. And it's not so much about the things as it is about the broken trust.
 

johnjk

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Lots of life’s lessons in this thread. Our old neighbors were great about borrow and returning the same or better. Never thought twice when they needed to borrow a tool. When we moved I extended that to my new neighbor and it took me 3 months to get my chainsaw back. His reasoning was I would come looking for it when I needed it. Continually asking to borrow my B3200 and brush hog to do work on rentals he flips. Told me one of his guys would only need it for a few days. Yeah, no thanks. I’ll help him out if it is in his property and I’m in the operators seat.
 

GreensvilleJay

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BX23-S
Apr 2, 2019
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re: Continually asking to borrow my B3200 and brush hog to do work on rentals he flips.

yeah the guys in BUSINESS and could 'write off' the tractor/hog purchase has the nerve to 'borrow' your investment ????

reminds me of neighbours son, drops of a generator at his moms, figured I could 'look at it' ( fix it !). he's a slum landlord x 3 in big city. well.. I 'looked ' at it.. it's still on his mom's garage floor, just dustier !!!
 

Jim L.

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I would not co-own. If the implement takes out the side of a car, then you can both be sued. And neither of you would have insurance.

The theme here is expectations. What you expect and what the other guy expects rarely match up.

Something rarely used doesn't make much sense for everyone to buy.

The school answer would be to form an LLC to hold ownership and then to "rent" out the equipment based on use or hours. Most people would not want to go to that trouble.
 

dirtydeed

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Dec 8, 2017
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When we moved I extended that to my new neighbor and it took me 3 months to get my chainsaw back. His reasoning was I would come looking for it when I needed it.
Happens to me all the time...and it really peeve's me off. Sometimes I wish I didn't have all the tools...
 
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NCL4701

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L4701, WC68 chipper, grapple, BB1572 box scrape, Howes 500 rotary cutter, etc.
Apr 27, 2020
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Central Piedmont, NC
This thread makes me laugh. Only one I trust with my stuff is my 6 year old 🤣.

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View attachment 59194

I will buy what I need for me. Happy to help others with what I have, but never loan,borrow, co own.
Not asking about the tractor; already have one of my own. My kid grew up and moved a couple hours away so I’m short on help.

You ever consider renting out the kid? Sometimes I could use a good operator. I’d return him in as good a condition as he showed up in. ???
 
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