Joint Venture,
Like I said, I know it can be done, have seen it and it's why we decided to do it instead of starting over with a Toyhauler which we wouldn't be using all the time. We love our Montana.
Am aware of the double / triple towing issue but the dual receivers are the trick and make them an extension of the trailer as opposed to an additional vehicle. As such it doesn't even have to be independently registered.
The dual hitch also prevents the springboard affect I think you were describing. The hitch receiver rotates only so far up and down and side to side.
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