RV Hangar Partnership Agreement Help

alpinelakespilot2000 · #1 01-25-2012, 05:38 PM

I'm considering purchase of a 40'x36' hanger in partnership with a another non-RV, non-builder pilot. Does anyone have any experience with hanger partnerships and have any advice to offer? Anything special for RV's aside from the fact that RV's fit better with high wing planes? Any sample agreements that might give me a start? (AOPA only has sample a/c partnership agreements.)
Thanks.

RV10Man · #2 01-25-2012, 07:05 PM

My brother & I are sort of hangar partners. I bought the hangar, he keeps his RV9A in it. We also partnered with a hanger, his pants, my shirt.

Marshall Alexander

hydroguy2 · #3 01-25-2012, 09:40 PM

be ready for hangar rash. a cessna has a ~36' wingspan, so either he will be in the back and need move you to get out. Or you'll be in the back and need to move him to get yours out. 40' is kinda narrow for 2 active planes(unless the high wing is a kitfox or similar)

az_gila · #4 01-25-2012, 09:57 PM

Quote:

Originally Posted by hydroguy2

be ready for hangar rash. a cessna has a ~36' wingspan, so either he will be in the back and need move you to get out. Or you'll be in the back and need to move him to get yours out. 40' is kinda narrow for 2 active planes(unless the high wing is a kitfox or similar)

It's a tight fit - RV-6 shown here, the rv-9 has quite a bit more span...

JonJay · #5 01-26-2012, 09:34 AM

I would start with standard available agreements for any kind of real estate partnership. You have different kinds of agreements, like Tenants in Common, partnerships, etc...
You can 'google' them up.
Regardless, if your smart, you will invest in a real estate attorney to draft the final documents with whatever special provisions you wish. Expect to pay a couple grand for that. Money well spent should you have a dispute, a partner wants out, or one of you dies.
Keep in mind, unless you are building on private land, you are probably leasing the land on a long term land lease. Make sure your attorney knows this circumstance.

NickAir · #6 01-26-2012, 12:09 PM

Steve,
I have a simular situation as you describe. I have done rentals for 17 years. I will forward you my contract for a shared hanger. It will show you several issues you should have in black and white. Written contracts are not needed when everything is routine and good, rather they remove any disagreement when you enter into something other than routine and good. Will forward later tonight.

Spindrift · #7 01-26-2012, 01:08 PM

I've been sharing an end t-hanger (so not really a 'T') with a Cessna 140 for a couple of years having taken over the space from an RV-6 when the previous hanger partner sold his plane. Its definitely a tight fit, especially given that the -7 is a wider by about a foot on each side. My plane goes in nose first, and his tail has to be maneuvered around mine. Only instance of hanger rash so far was a minor scrape on my plane that was my fault. Thankfully my plane doesn't have a great paint job so I wasn't too concerned.

It is a bit of a pain to have to move his plane in and out each time I want to fly, but the savings is well worth it, and, technically, its his hanger anyway (his name is the one on the lease). Tape marks and boards to stop the tires at the proper place are key to avoiding contact.

We don't have a formal agreement in place, but he shared with the previous guy for 15+ years with no issues. We both have good insurance in case anything big ever happened.

YMMV

JonJay · #8 01-26-2012, 02:16 PM

It is one thing to share a hangar with someone. It is entirely another thing to purchase a hangar with someone else.

Ron B. · #9 01-26-2012, 02:40 PM

I built an RV-10 with three friends. So far it's been great with no agreement. I tried to get them to draw one up when we started building and we still do not have one. I have a lot of what ifs and they say we will deal with it when it happens. I would rather know what I'm responsible for beforehand than to be broken down, across the country, hire someone that has tools and then find out that the repair bill is mine only. If I broke it then it's mine but if it just broke I'd say it's all of ours. If it just broke locally we would all just fix it, is it my responsibility where as I'm flying it away from home. Flying it away from home was the point of building the RV-10 , as we all own our own local flying AC . Mine is an amph. exp. SuperCub.
My point is make your agreement before commencing and know where you stand.
Ron

NickAir · #10 01-27-2012, 12:06 AM

Quote:

Originally Posted by JonJay

It is one thing to share a hangar with someone. It is entirely another thing to purchase a hangar with someone else.

Jon, quoted above is very correct and, in my opinion and experience, this will require additional contract language for the exit process for either partner. I have 17 years experience in real estate/rentals/hangers although I disclose that I am not an attorney and you should seek review of any contract by an attorney prior to signing.

Good contract language: This will include things such as: Buyout agreement; Means/process for the determination of a buyout price; buyout terms for payment; buyout based on delinquency of identified partner responsibilities; actual responsibilities; actual liabilities; parking; additional storage of any non aviation items; storage of tools; storage of aviation items; language on responsibilities of utility costs; etc...

Liability: Language of liability, for both parties, due to damage to a partner's property or hanger. Terms for payment of incurred liability. (Insurance usually has a higher deductible than most hanger rash issues therefore terms of payment should be spelled out.)

A real estate and/or contract attorney will not know to cover all items needed for every situation so you are encouraged to spend some time considering all possible issues for your particular situation and putting it in writing. You can always make exceptions to the restrictive language with an addendum. You can NOT enforce an issue that you had no language on unless you have another authority to back you up such as, the airport, fire martial, legal law, city ordnance's, etc...

This is only an example of issues to consider. This is not legal contract language.

Steve, I sent you a copy of a hanger shared hanger agreement of mine, as an example. It may cover some issues you may wish to adopt to your agreement. Have your contract reviewed by an attorney prior to signing.