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+--- Thread: Reusing domain names (/Thread-Reusing-domain-names)
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Reusing domain names - kokotai - 08-17-2006
I have a friend who is "giving" his domain name to another person. Is that possible?
Reusing domain names - Slashmire - 08-17-2006
Well, you could always break in his house, and then force him to conduct business through money...or we can accept that transactions can be acheived without monetary exchange
Reusing domain names - zach - 08-17-2006
Slashmire Wrote:Well, you could always break in his house, and then force him to conduct business through money...
OH BLAST IT! Slashmire has revealed my plan! :eek:
Reusing domain names - LyricB - 08-18-2006
I wonder how someone would go about doing this...can you just transfer it over as a gift or something?
Reusing domain names - zach - 08-18-2006
LyricB Wrote:I wonder how someone would go about doing this...can you just transfer it over as a gift or something?
The transfer process is independent from the payment process. You can transfer as many of your domains as you want, to whoever you want. There is no check on whether money was exchanged. In the view of the registrar, you are just changing ownership though changing the account of the domain; in the view of ICANN and the regional registers, you are changing ownership through changing the WHOIS info.
In a sale, generally, the buyer pays the seller, and then the seller transfers the domain. The payment process can be done through whatever means is agreed upon: paypal, check, money transfer, escrow, a barter of potatoes, etc.
If NO payment is to be made (and the domain is a gift or another non-monetary exchange), then the domain is simply transfered without waiting for money.
Hope its clear that the two processes are independent (which is why, until escrow for domains, it was very risky transfering domains, and high price transfers were usually conducted under legal accords).
Zach
Reusing domain names - Slashmire - 08-18-2006
However, I would guess that legally, you...would have to declare it as a "gift" to the IRS and all....maybe charge him a penny or so.
Reusing domain names - triumph - 08-18-2006
Yeah Zach covered it completely. This is very easy and painless. Most registrars allow you to set up accounts for free, so just have the second person sign up at the same registrar and transfer them over. In a lot of cases you don't even need to extend it out a year when you transfer.
Reusing domain names - Grace - 08-18-2006
They have no record of money being exchaned for the domains! It can be a gift for free and the IRS does put it down as a gift. Very interesting and I don't think you can do that for houses.
Reusing domain names - kokotai - 08-19-2006
zach Wrote:The transfer process is independent from the payment process. You can transfer as many of your domains as you want, to whoever you want. There is no check on whether money was exchanged. In the view of the registrar, you are just changing ownership though changing the account of the domain; in the view of ICANN and the regional registers, you are changing ownership through changing the WHOIS info.
In a sale, generally, the buyer pays the seller, and then the seller transfers the domain. The payment process can be done through whatever means is agreed upon: paypal, check, money transfer, escrow, a barter of potatoes, etc.
If NO payment is to be made (and the domain is a gift or another non-monetary exchange), then the domain is simply transfered without waiting for money.
Hope its clear that the two processes are independent (which is why, until escrow for domains, it was very risky transfering domains, and high price transfers were usually conducted under legal accords).
Zach
Thanks Zach. The guy getting the gift is my brother and the giving the gift is my cousin who tends to be not so honest.
Reusing domain names - Paula62 - 08-19-2006
kokotai Wrote:Thanks Zach. The guy getting the gift is my brother and the giving the gift is my cousin who tends to be not so honest.
Then you might want to check and make sure there's no pending litigation or criminal action against the domain!
Seriously, though, when transferring domains there is the (usually remote) risk of taking on liabilities related to the domain, so always do a little due diligence.