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Thread: Aircraft Registration

  1. #1

    Default Aircraft Registration

    If my dad and myself were to own a plane together would we check "partnership" or "co-owner" on the FAA registration? Also there only seems to be room for one address, can both of our addresses be on the registration?

    If one of the partners dies does the ownership automaticly revert to the other co-owner regardless of estate issues?

  2. #2

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    you might want to start an llc and have it be the owner, you and your father would be partners. This is may be a better option than you and your father owning it, especially if you don't plan on insuring it (I think that you mentioned that in an earlier post).

    Now I will throw in my advice, which is worth what you paid for. That is a really hot little plane, and you don't have the experience to be flying it. Pitts are know to be really twitchy on landing, go get a lot of time in a more docile taildragger like a citabria and then move up. Given your posts you will ignore this advice, but at least if you ball it up I can say I tried.
    The winner isn't the person with the most gold when they die, but rather, the person with the most stories.

  3. #3
    Member Float Pilot's Avatar
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    Co-owner. One address. Pick which ever of you lives in a place with lower property taxes.
    While an LLC might help slow down the lawyers who are trying to sue you. Eventually they will do what is called Piercing the Corporate Veil, once it becomes obvious that the LLC was only formed to avoid personal liability.
    Floatplane,Tailwheel and Firearms Instructor- Dragonfly Aero
    Experimental Hand-Loader, NRA Life Member
    http://site.dragonflyaero.com

  4. #4

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    I own the pitts out right in my name only, my questiong was for a cub that is in the family. I have my tail wheel in a citabria with about 10 hrs an about 100 landings. I will have an instructor with me in the pitts until im ready to solo.

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    Quote Originally Posted by rppearso View Post
    If my dad and myself were to own a plane together would we check "partnership" or "co-owner" on the FAA registration? Also there only seems to be room for one address, can both of our addresses be on the registration?

    If one of the partners dies does the ownership automaticly revert to the other co-owner regardless of estate issues?
    The more you dance around these issues, the deeper become the waters around you. Especially as to liability and ownership. A good attorney might advise you, as to your "estate," that you to may want to form a Revocable Living Trust, and that the trust might best be shown as the "owner". But what do I know . . . . .

  6. #6

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    I am refering to who the plane will go to if something were to happen to my dad, if im on the registration will that over ride what ever else is going on with the estate?

  7. #7
    Member Float Pilot's Avatar
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    Contact an agent of Satan,,, oh I mean a lawyer,,, about what Griz said. A trust can be loaded with all sorts of property...
    Floatplane,Tailwheel and Firearms Instructor- Dragonfly Aero
    Experimental Hand-Loader, NRA Life Member
    http://site.dragonflyaero.com

  8. #8
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    Quote Originally Posted by rppearso View Post
    I am refering to who the plane will go to if something were to happen to my dad, if im on the registration will that over ride what ever else is going on with the estate?
    Personal wills of all trustees will appear in the trust documents. As Float Pilot said, see a trust attorney. It will be the best buck you'll ever spend, in my estimation. The registration should show the trust as the aircraft owner, and the plane would stay in the trust.

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