how does one find a co-owner?

I've seen several references to "partnerships" as a way to co-own a glider. I think having one or more "pllllartners" is a great way to gain access to a glider with higher performance and/or in better condition. But I would use that as a general term and not as a specific legal mechanism.

Some sort of limited liability structure (in the old days, a C corporation; now probably a Limited Liability Corporation-LLC) is advisable to protect each owner as much as possible from legal/financial liability resulting from the actions of a "partner". My father helped organize a number of multi-owner groups back in the 60s and 70s and always, IIRC, set up a corporation as the owner, with each "partner" owning shares in the corporation. The world hasn't gotten less litigious in the meantime.

Chip Bearden

On Thursday, October 19, 2017 at 4:13:16 PM UTC-4, wrote:
I've seen several references to "partnerships" as a way to co-own a glider. I think having one or more "pllllartners" is a great way to gain access to a glider with higher performance and/or in better condition. But I would use that as a general term and not as a specific legal mechanism.

Some sort of limited liability structure (in the old days, a C corporation; now probably a Limited Liability Corporation-LLC) is advisable to protect each owner as much as possible from legal/financial liability resulting from the actions of a "partner". My father helped organize a number of multi-owner groups back in the 60s and 70s and always, IIRC, set up a corporation as the owner, with each "partner" owning shares in the corporation. The world hasn't gotten less litigious in the meantime.

Chip Bearden

Great advice ... I wish I had this information 40 years ago when Templin and I became partners in the LS-3 ... :-)

You will likely be much happier finding a lower performance ship that fits your budget than in a partnership.

I’ve owned a share in an airplane before and never again will I do that. I bought both a glider and an airplane, both are not the newest or highest performance ships but it is so much better to own the aircraft entirely.

Even if the partnership agreement is spelled out clearly and the other owners are reasonable people there will be certain frustrations that will drive you crazy.

Availability will never be an issue if it’s your own ship. With a partnership this will always become an issue at some point.

Upgrades with fractional ownership are difficult. If you want that new vario and your parters don’t....

Ownership and maintenance costs even if spelled out in writing usually will cause some frustration.

It’s hard not to overpay for a share in a glider.

When one owner decides to sell you could be forced to buy them out for more than the share is worth.

One party will usually use the ship more, and you can imagine the issues that will come up.

If you can fly club aircraft until you can find a glider you can buy outright that fits your budget you should do that. You won’t have to deal with maintenance, storage, and in some cases assembly, insurance, etc.

On Sunday, October 22, 2017 at 8:24:27 PM UTC-4, wrote:
You will likely be much happier finding a lower performance ship that fits your budget than in a partnership.

I’ve owned a share in an airplane before and never again will I do that. I bought both a glider and an airplane, both are not the newest or highest performance ships but it is so much better to own the aircraft entirely.

Even if the partnership agreement is spelled out clearly and the other owners are reasonable people there will be certain frustrations that will drive you crazy.

Availability will never be an issue if it’s your own ship. With a partnership this will always become an issue at some point.

Upgrades with fractional ownership are difficult. If you want that new vario and your parters don’t....

Ownership and maintenance costs even if spelled out in writing usually will cause some frustration.

It’s hard not to overpay for a share in a glider.

When one owner decides to sell you could be forced to buy them out for more than the share is worth.

One party will usually use the ship more, and you can imagine the issues that will come up.

If you can fly club aircraft until you can find a glider you can buy outright that fits your budget you should do that. You won’t have to deal with maintenance, storage, and in some cases assembly, insurance, etc.

Good advice ... many people are fair (even generous) and honest - others not so much - especially when a few shekels are involved.