In message <[log in to unmask]> on Mon, 15 Nov 2004, John 
Martinson <[log in to unmask]> wrote
>We have a "50,000" pound object that a city wants to put on display in 
>a public park for interpretation.  Would anyone have any legal language 
>that allows us to "loan" (through an outgoing loan agreement) the 
>object on a permanent basis, but still retain ownership of the item? 
>Thanks!

The main thing is to avoid the expression "permanent loan"! It will 
always cause trouble, because the two words contradict each other; 
lending implies a temporary arrangement, which cannot be permanent.

Either give the thing outright to the proposed borrower, or else lend it 
for a fixed period of years, after which you can review the arrangement 
and renew the loan for a further fixed period if both parties agree.

If you are not willing to give it as a gift, then you will have to 
include conditions to ensure that it is properly looked after, and what 
settlement will apply if it is stolen, lost or damaged. These conditions 
should be reviewed regularly, which the renewal of the loan should 
ensure.

Leonard Will

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Willpower Information       (Partners: Dr Leonard D Will, Sheena E Will)
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