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BrokenDC10

I'm New Here
Hi VAF,

New RV-7 builder here (along with another partner).

We've heard that EAA has some sort of contract that both of us can sign that will minimize any sort of disputes during the build process in the unlikely event that one of us wants to leave the project.

I've searched and searched on both the EAA website and VAF but can't seem to find anything.

Does anyone know where I can find this?

Thanks in advance,

- Mark
 
Hmmm. Never heard of such a thing, but that in and of itself doesn't mean it doesn't exist. If you can't find it, what you could do is get hold of an aircraft owners partnership contract (plenty of those floating around) and use that as a template, modifying the verbiage as required to match the circumstances.
 
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AOPA Has One

AOPA has one, and I am pretty sure EAA has something as well. When we started our partnership over 5 years ago, I combined them into a document that so far has worked really well for us. It is stripped of most of the specific details for our situation, but you can read the blank version here:

https://docs.google.com/document/d/1r0E3VkOBGr-E9GwXTsPVDfojUnEJ4JEC9OLMVi_Afzo/edit?usp=sharing

Be sure to read Article 22 and make sure it fits with your philosophy on dispute resolution.
 
Draw up a contract.

Mark, I was in an RV-6A partnership for 2 years during the build and 5 more after it was flying. He eventually wanted out and we had drawn up our own contract and let an attorney look it over, with very little changes needed.

We had specified that the buyout price would be one half of what we had in it and everything went well and he's still my buddy.

Best,
 
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