Not in the market for a P-51!

[Michael Horowitz]

I'm looking at pics from OSH.
Bunch of P -51s, T-28s.
Are these typically owned by an individual or a club? - MIke

[Robert M. Gary]

individuals

[Juan Jimenez]

Usually it's some sort of corporation, like an LLC. The people who own these
don't normally register them under their own names.

"Michael Horowitz" > wrote in message
...
> I'm looking at pics from OSH.
> Bunch of P -51s, T-28s.
> Are these typically owned by an individual or a club? - MIke
>

[Robert M. Gary]

That's a technicality. They are owned by individuals but they
incorporate the aircraft. I did the same with my Mooney. I wouldn't
consider it owned by a corp though just because that's what I put on
the FAA paperwork.

-Robert

[vincent p. norris]

Two local car dealers I know owned a P-51 and an AT-6 each; all four
a/c (and several others) were listed as "inventory" of their car
dealerships, theoretically for sale like any used car on their lots.
They did this for various financial advantages.

vince norris

[Jim Burns]

Could be an interesting approach on insurance coverage, just guessing. As
our inventories change periodically, we've got a monthly insurance audit
that requires us to place a value on the contents of each building. It
doesn't matter what the contents are, all the insurance company wants to
know is the value of the contents. I can imagine that a car dealer could
have the same type of policy. The "available for sale" theory may be a
requirement to help legitimize the aircraft being insured. I wonder if they
also have airplane dealers licenses.

Jim

[vincent p. norris]

> I can imagine that a car dealer could
>have the same type of policy. The "available for sale" theory may be a
>requirement to help legitimize the aircraft being insured. I wonder if they
>also have airplane dealers licenses.

Sorry, I don't know. I've never inquired.

vince norris

[Juan Jimenez]

Well, the courts and IRS would disagree with that, but that's another
story...

"Robert M. Gary" > wrote in message
oups.com...
> That's a technicality. They are owned by individuals but they
> incorporate the aircraft. I did the same with my Mooney. I wouldn't
> consider it owned by a corp though just because that's what I put on
> the FAA paperwork.
>
> -Robert
>