Light-Sport Aircraft Yahoo group Re: DFW Area - Newbie

Yeah Pete,

A written agreement is _highly_ wise to have, but no substituted for the intangible thing of both being of high integrity, compatible personalities, and committed to making it work fairly for all involved.
Equally valuable for protection against some of those "what if's", is registering the aircraft as owned by a limited liability corporation (something VERY easy to do in Oregon and many states.)

The AOPA has a draft co-owners operating agreement you can get free.
It's heavy duty and covers that EVERYTHING you could possibly think of right down to "what if one owner wants to shoo a hornet out of the cockpit and the other owner thinks it should be flown back to it's home airport before being ejected?"<g>

Alex

--- In Sport_Aircraft@yahoogroups.com, Peter Walker<peterwalker58@...> wrote:
>
> Hello Alex
> Only thing to add to a partner/co owner is to have a cut and dried divorce clause If either wants out or wants the other out this is what happens....
> Peter
>
>
> ________________________________
> From: A. Censor <acensor@...> wrote IN PART --

> Also, if you do decide to buy an LSA you might consider trying to find a compatible co-buyer/owner or buy into an existing one.
> I advertised on Barnstormers (Posting notes on the local airport bulletin boards can work too) and found a local guy who was completely compatible with me and we purchased and LSA together.
> It's great because everything costs half as much (hangers, new instruments, whatever) and we have two sets of eyes and two brains
> to apply to maintenance and safety issues.
>
> HTH.
>
> Alex







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