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Experimental partial ownership



 
 
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  #1  
Old December 19th 08, 08:42 PM posted to rec.aviation.homebuilt
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Default 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?
  #2  
Old December 20th 08, 02:54 AM posted to rec.aviation.homebuilt
Blueskies
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Default Experimental partial ownership


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?



  #3  
Old December 20th 08, 05:06 PM posted to rec.aviation.homebuilt
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Default Experimental partial ownership

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.
  #4  
Old December 21st 08, 01:15 AM posted to rec.aviation.homebuilt
Peter Dohm
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Posts: 1,754
Default Experimental partial ownership

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.



  #5  
Old December 23rd 08, 03:17 AM posted to rec.aviation.homebuilt
Lou
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Posts: 403
Default Experimental partial ownership

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

 




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