Not in the market for a P-51!

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

individuals

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

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

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

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

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

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