Hello, need some help again.

I have a few domain names in mind (about 6 of them) but at the moment I really don't have sufficient money to buy them all (if I want some money left over to me).

So I was thinking of letting one of my (richer) friends buy them for me and then, when I have more money, I could buy them from him. Is this possible and if so, how do you do it?

Sure, it's possible. When you are ready to buy domain from friend, just start domain transfer request to get domain moved from his account to your account.

And this is an easy process?

Yes, it's easy (if friend doesn't decide to cheat on you) :)

I would highly recommend drawing up a brief document that you both sign to agree the terms of the deal. There are too many cases where friends can fall out over a disagreement on a deal like this.

It needn't be a tortuously long document. Just something that puts in place what you are both agreeing to. Who is responsible for paying what and when, and to who (any costs, renewals, transfer fees etc). What the domains can and can't be used for in the meantime. What happens of either if you changes your minds etc.

You print two copies, and both sign both copies (one each to keep). It doesn't have to be malicious, it can be a simple as you both remember the deal slightly differently. Putting it in writing makes it MUCH easier to handle, so you both know where you stand, and your memories won't be tested!!!

Hope this helps...

Mike

better borrow money from your friend and buy it for yourself and when you have money pay him back my two cents )

Get someone who does not care about domain names and do not break the friendship :) the domain names might be lucrative business, but even if they aren't they are still something to earn money from.

Transferring domains between people is pretty trivial technically speaking, and really doesn't cost anything more than the registration fee (a few bucks).

The bigger issue is whether or not your friend will WANT to give it up. It will legally belong to him obviously once he purchases it.. so you may want to draw up some legal document to ensure that he does eventually turn it over to you.

Hello, need some help again.

I have a few domain names in mind (about 6 of them) but at the moment I really don't have sufficient money to buy them all (if I want some money left over to me).

So I was thinking of letting one of my (richer) friends buy them for me and then, when I have more money, I could buy them from him. Is this possible and if so, how do you do it?

try to use your friend's credit card while registering domain under your account in your name.
Just make sure your friends are honest enough: if they decide to charge transaction back, you will be responsible for their actions and can lose those 6 domains along with others on your account.

Also if your registrar suspects fraud (due to name mismatch) they can call you or credit card's owner - make sure your friends will answer the phone :)

I would highly recommend drawing up a brief document that you both sign to agree the terms of the deal. There are too many cases where friends can fall out over a disagreement on a deal like this.

It won't help, unless this person has a truckload of money for lawsuits. Unfortunately, he has no money...

A signed document normally helps just fine without the need for a lawsuit!

The document acts as a discussion to finalise the terms, and make sure that both parties have the same understanding of what their role is in the deal... that discussion itself is an important part of the way problems are avoided. Too many people enter into such a deal without having thrashed through the "what ifs" and the terms. Simply talking it through to create the document, makes sure that both sides have the same understanding.

The document then also acts as a memory of those discussions, to make sure that both side have the same recollection of the discussion. Without the document, you'll probably get exchanges that go along the lines of "I though we said....", "No, we definitely said..."!

Put it in black and white in simple terms after discussing it. Both sign a copy. Now the wriggle room is reduced, and both sides know confidently where they stand. Hopefully that would prevent 99% of problems occurring between friends, and more importantly, will hopefully prevent the friendship being strained by it. It shouldn't come to the point where either of you need a lawyer, and the fact that you have a document (that both of you signed), will go a long way to stopping the need for a lawyer if everything went wrong down the line as both parties would know what their obligations were.

If you still had a disagreement and one party wants to back down on the deal, you could also get in an another friend as an arbitrator to help resolve any disagreement if one arose, instead of paying a lawyer. Or even just a trusted third party you both respect to be fair in helping you resolve the matter (maybe a local policeman or teacher etc).

A lawyer really would be a last resort in such a case, and would be a sad reflection on the friendship if by using the above, you still got to the point where you needed a lawyer!!

Of course, as someone else said, it might be better to just borrow the money, and buy the domains yourself in your own name to start with. This will reduce any hassles further, although in that case you would still want a signed document, but this time agreeing the terms of the loan instead.

Mike

Yeah, right... Did you have this experience yourself? It looks you hadn't, so you still believe it's so easy...

I've had a situation where two peoples memory of the situation caused me to be out of pocket by a reasonable sum of money.

Since then, no matter who I am dealing with, or for what sum, I always insist we have something in writing between us, which benefits both sides. I've never had a problem since, and never needed to call a lawyer!

Remember, we are talking about a deal between friends here, where it is easy to wrongly assume you won't need a signed document, and not having one is the cause of most problems and the breakdown of great friendships too!!! A signed document solves 99% of problems without need for a lawyer (when dealing with friends).

Since I started insisting on a signed document, I have never had a problem that wasn't easily solved by both sides. I have never had to employ a lawyer. Your experience might be different...

I would advise to never enter into any sort of verbal deal with a friend without a signed document. That is my advice, no more, no less.

Mike

... I guess that... and picking which "friends" I do a deal with! If you don't trust the friend, then a document won't help you. If you trust the friend, then make sure you have a document to help you keep the friendship and not strain it. Friendship like that are too good to be ruined over a petty money disagreement!!!

Mike

... I guess that... and picking which "friends" I do a deal with! If you don't trust the friend, then a document won't help you. If you trust the friend, then make sure you have a document to help you keep the friendship and not strain it. Friendship like that are too good to be ruined over a petty money disagreement!!!

Mike

the most reasonable advice i must admit. "lend your money and lose your friends"