Cohousing-L Mailing List: Group ownership of a truck

[Michael Barrett (mbarrett]

Our informal truck co-op of 6 member households within our cohousing community 
(i.e. it is not a whole community resource) in Virginia has operated with one 
owner with title and insurance - and several friends.  The owner wants to 
change this and an LLC has been suggested as being used successfully in other 
coho communities  On the basis of an online search, foming an LLC seems 
complicated and costs money (no surprise there) and requires amongst other 
things filing tax returns for the LLC with state and federal governments. 

As a simpler alternative, a couple of Coho -L archive entries state that one is 
covered by one's own personal auto insurance while driving the "borrowed" 
vehicle.

Transfer of money and any sharing of costs seems to be a potential "biggie". 
Are there folks who have experience in vehicle sharing co-ops who are willing 
to share their experiences, good and bad, and offer specific advice? 

Michael Barrett