Experimental partial ownership

I've been approached by a friend who's interested in buying a 10%
share of an experimental I (will) own. He'd split hangar/insurance
and pay a higher hourly rate than I. An LLC will be established.

Is this legit?

wrote in message ...
I've been approached by a friend who's interested in buying a 10%
share of an experimental I (will) own. He'd split hangar/insurance
and pay a higher hourly rate than I. An LLC will be established.

Is this legit?

I suppose...why wouldn't it be?

I suppose...why wouldn't it be?

My thought is that it could be seen as a clever way around the you-
can't-rent-an-experimental rule.

I've just never come across such a thing.

I should contact AOPA and EAA and get their take.

wrote in message
...
I suppose...why wouldn't it be?

My thought is that it could be seen as a clever way around the you-
can't-rent-an-experimental rule.

I've just never come across such a thing.

I should contact AOPA and EAA and get their take.

I don't understand the radically unequal partnership, especially with the
plan to include ownership through an LLC which should be able to solve the
problem. It just seems like something along the "flying club" model would
be more promising.

In any case, I would also run any and all ideas by the AOPA and EAA before
proceeding any further.

Why only 10%?
Is he going to pay 9 times as much for an hourly rate?
If he only owns 10% but uses it more than you, will you be
paying 90% of the overhaul?
Lou