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Author Topic: CO OWNERSHIP OPTIONS  (Read 298 times)

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Offline RCAF36

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CO OWNERSHIP OPTIONS
« on: June 23, 2018, 02:13:18 PM »
Wondering how other pilots handle fractional ownership of aircraft.  Do most incorporate either federally or provincially and if so why.  My biggest concern would be my  liability in the event that another co owner has an event that injures individuals or property. 

Offline hans

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Re: CO OWNERSHIP OPTIONS
« Reply #1 on: June 26, 2018, 10:47:37 PM »
I have had many offers to partner my Cherokee 140, but hearing all the horror stories of partnership problems, I decided to stay away from it. I guess it helps if you really know your partner, his flying skills, his financial situation and his integrity. Problems such as hangar rash that appears out of nowhere, should the annual inspection be divided equally or proportioned according to hours flown, who gets access on what dates, who washes and cleans, who maintains the tiedown area and who shovels snow and de-ices etc. etc. But a good amount of insurance should cover all liabilities.

 

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