JamesClarkIV
Active Member
What costs can I share in the following scenarios:
#1) 50/50 split ownership of experimental RV7A. 50/50 split of hangar cost, 50/50 split of maintenance costs, 50/50 split insurance cost, each owner buys own fuel, kitty for overhaul priced by hour flown by each co-owner.
#2) 100/0 non-split ownership (1 owner) of experimental RV7A. Can owner accept help from friend for hangar costs, for friend fuel costs, for friend induced maintenance costs? Can owner charge some fixed rate for friend to fly per hour?
If 1) is OK and 2) is NOT, is there a way friend can fly owners airplane (if owner willing), at no cost to owner?
I'd like to let my friend fly (with appropriate insurance & transition training) but want to do so without incurring extra cost. Can this be done?
Thanks.
Very respectfully,
Jim Clark
#1) 50/50 split ownership of experimental RV7A. 50/50 split of hangar cost, 50/50 split of maintenance costs, 50/50 split insurance cost, each owner buys own fuel, kitty for overhaul priced by hour flown by each co-owner.
#2) 100/0 non-split ownership (1 owner) of experimental RV7A. Can owner accept help from friend for hangar costs, for friend fuel costs, for friend induced maintenance costs? Can owner charge some fixed rate for friend to fly per hour?
If 1) is OK and 2) is NOT, is there a way friend can fly owners airplane (if owner willing), at no cost to owner?
I'd like to let my friend fly (with appropriate insurance & transition training) but want to do so without incurring extra cost. Can this be done?
Thanks.
Very respectfully,
Jim Clark