I've mentioned this before, but it's gonna be a WHILE, after Virgil's
un-earthed, before the City of Tulsa is legally able to 'award' his
ownership (along WITH an IRS Ordinary Income receipt form 1099,
representing his 'appraised' "Fair Market Value") , to the "winner" of
the 2007 Tulsa- Population-guessing- Contest.
Step 1. will be figuring out, BEFORE(!!!) the dis-internment, what the
population of Tulsa "WOULD BE", in 2007, based upon project-
ions/extrapolations, from previous censae.
Good luck.
Step 2. will be trying to read the thousands (hundreds, anyway) of
micro-film entries, and deciding who 'wins' Virgil (assumning no "ties"
)
Step 3. will be preparing to defend against lawsuits, from (righteously)
indignant close-guessing Claimants. [Maybe this IS Step 2.!!]
Step 4. will be moving/protecting the "remains"
from zealous 'enthusiasts/vandals/thieves'.
After an initial public-viewing opportunity, in situ, Tulsa should
IMMEDIATELY relocate the car, to safe storage, on behalf of the car's
new owner(s). No "PLy-Club" special- considera-
tions, allowed. Too much potential legal-
liability, for the City.
Step 5. will be trying to APPRAISE the car's 'remains', for IRS form
1099 purposes, as the happy-owner(s) will have to pay income tax, on the
car's F.M.V., upon 'receiving' the car.
[the tax liability will be a major factor in having the owner(s) agree
to sell the car, but, it MAY- probably end-up @ the B-J , instead of
being sold, privately ] . Funny thing, tho: its sale-price,
over-and-above the tax liability, will, ITSELF be subject to the
imposition of Ordinary Income tax liability! There should, still, be a
significant profit, post-tax!
Step 6. will be trying to LOCATE/find the owner(s)/winner(s) of the
car.
Step 7. will be the long-term storage of Virgil, as the
owner(s)/estate(s) [ and/or "losing-Claimants" ! ] wrangle, legally,
OVER his ownership.
Does anyone recall the still-ongoing litigation, over the ownership of
the last/seventh Cobra Coupe???
I still plan to be there, but I hold no illusions
about Virgil's "immediate" disposition.
Hope his car keys were left inside him!
Neil Vedder
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