Many who want to own a private aircraft, think that co-owning an aircraft with another is a simple way to reduce costs, responsibilities, and other aviation-related headaches. In the very best scenarios, this can be true. However, more often, in trying to simplify their lives, the co-owners don’t take the time initially to understand the cost and use expectations of the other party or to implement paperwork solidifying the mutual understanding of how the co-ownership arrangement will work. A well thought-out and drafted co-ownership agreement that addresses all the relevant ins-and-outs of private aviation co-ownership, can allow for a successful co-ownership experience. Without such a co-ownership agreement, it is often only blind luck that can save the co-owners from an arduous and expensive relationship.
Co-Ownership T 2016-11-17T12:12:42-06:00