As noted in Part 1 of this series, owners of private aircraft will often want to share ownership and/or use of their aircraft with others. In most cases the motivation for sharing ownership and/or use of an aircraft is to...more
As noted in Part 1 of this series, Federal Aviation Administration (FAA) rules govern the ownership, operation and use of private aircraft. Most private aircraft are operated under Part 91 or Part 135 of the Federal Aviation...more
As discussed in Part 1 of this series, the first step in purchasing a private aircraft typically involves the preparation of a letter of intent (LOI) or other nonbinding offer for the purchase of the aircraft. The LOI sets...more
9/13/2018
/ Aircraft Sales ,
Aviation Industry ,
Business Ownership ,
Contract Drafting ,
Family Businesses ,
Federal Aviation Administration (FAA) ,
Inspections ,
Letters of Intent ,
Purchase Agreement ,
Purchasers ,
Sellers
Access to private aircraft can provide productivity and other benefits for a family-operated business and improve the quality of life for the business owner and his family. However, purchasing, owning and operating a private...more
8/23/2018
/ Aircraft ,
Aircraft Sales ,
Allocation of Liability ,
Aviation Industry ,
Brokers ,
Business Ownership ,
Family Businesses ,
Federal Aviation Administration (FAA) ,
Letters of Intent ,
Purchase Agreement ,
Purchasers ,
Regulatory Requirements ,
Sellers ,
Small Business