Best co-ownership method

[mikehoover]

Any thoughts greatly appreciated about whether a corporation, LLC, partnership, or whatever, is best for co-ownership of an airplane.

Thanks!

Mike

[Low Pass]

I think it depends on your personal level of wealth/tolerance to liability and comfort with potential partner(s). Personally, I've been in one co-ownership with 4 individuals under a signed agreement taken closely from the AOPA document (no corporation used) and had very good luck.

Just take the time to put everything in the agreement before everyone signs.

[jmbaute]

I am in a 3 person partnership in a certified airplane. The plane is owned by a Delaware LLC and we have equal shares. Our agreement closely (blindly) follows the AOPA document. Get yourself a lawyer to write yours. I wish we had.

Partnerships are like dysfunctional families. There is always a brat amongst the partners, too. Still, it is the only way I could own & maintain an expensive certified A/C, so you take the bad with the good. And there is some good.

Feel free to send a PM with questions.

Best of luck.

John

[robertahegy]

Marriage works for me !

Roberta

[osxuser]

Avoid them...

Buy a 150 instead of a 182... whatever it takes to keep out of them.