If you are an aircraft owner (or an aspiring aircraft owner) who does not (or will not) need full-time use or access to your aircraft, you may be considering entering into joint use, factional ownership or time sharing agreements for your private or corporate aircraft. Under the right circumstances, a joint use agreement, a fractional ownership agreement, or a time sharing agreement can be a useful tool which allows you to use your aircraft in the desired manner with the desired party legally paying for the use of the aircraft. The Federal Aviation Regulations (FARs) allow for multiple entities or individuals to use these mechanisms to share use of an aircraft and to allocate expenses for shared use only under very specific situations and only when the related rules are explicitly followed. Let an aviation business attorney at Carriere, Little & Leach help you determine if joint use, fractional ownership or time sharing makes sense for your needs. If it does, we can help you understand and set up the arrangement that is right for you.
Joint Use / Fractional Ownership / Time Sharing T 2017-06-13T02:14:01-06:00