part owner

I am in a partnership with one other person... So far it has really
worked out well. I didn't know this guy from Adam before we purchased
our Mooney but am getting to know him now. We talked a lot before buying
and we both have the same feelings as far as maintenance and spending
money goes. We set up a Limited Liability Corporation to cover us in
case of an accident and then set up a joint checking and savings
account. We have an online calendar set up for reserving the airplane
but we don't really use it. It seems that calling one another is easier.
So far no conflicts. We are both flying more than we did as renters and
enjoying our Mooney very much.

Other than unexpected maintenance items, ownership has been very
enjoyable. I know there are some horror stories out there as far as
partnerships go but mine is not one of them. Good luck in your search.
The theory in a partnership is that you can get into an aircraft that
alone would have been impossible. You can email me if you have other
questions.

Jon Kraus
PP-ASEL-IA
Student Mooney Owner

Anti-Death-Spec wrote:

Greetings:
I am considering part ownership/partnership. I would greatly appreciate any
comments, suggestions, recommendations before I make my decision. What
things have some of you learned from your experiences. Thank you. Brian