Posted by MarkB_MI on October 28, 2010 at 03:02:02 from (166.203.171.189):
In Reply to: airplane partnership posted by dave anderson on October 27, 2010 at 17:55:20:
I've known guys who made it work, but it's tough. The partnership needs to be well-funded, so if there's an unexpected expense you have money in the bank to handle it. Each partner should be paying "rent" into this fund based on the number of hours they fly each month. Additionally, each partner should be paying a fixed amount each month to cover fixed expenses like hangar rent, insurance and annuals.
How are you going to work out things like purchasing radios? One partner may do a lot of IFR and will want a full panel with the latest gear, while the other is happy with a 30 year old single navcom.
What happens if a partner loses their medical or otherwise wants out? Can he sell his share?
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