Co-ownership

Lowflynjack said:
Exactly!

When I was a kid, my Uncle had a 1/8 share in a 172. They had a lot of rules. One of them was you couldn't sell to anyone you wanted. The other 7 guys got to vote on it. If they didn't like the person you were selling to, they had the right to buy your share from you, and they had a certain amount of time to do it. I don't remember the specifics. I know over the years, the club went from 8 members to 4 before the plane was destroyed in a crash.
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The other partners must have let someone sell their share to an undesirable so they wouldn't have to cough up the bucks.
 
In all likelihood, your friendship and the plane partnership are beyond repair.
I'd send him a certified letter saying he has 15 days to send you your half of the purchase price (if you have purchased within the past year and without upgrades, etc) or place the entire plane on the open market for sale or let the attorneys handle the resolution and then you both will be out fees. In the meantime you demand access to your plane.
 
Sigh... I think the others have it well covered.

1. You'll know next time to put everything in writing. Friendships dissolve over smaller things than this, so it's better to be clear up front. Just remember for the next time (if there will be one.)

2. You can demand that the plane be hangared at a FBO nearby. Make sure a mutually accessible FBO has hangarage available, and that the hangar contract is in both yours and his name.

3. Send your ex-friend a certified letter demanding that the airplane be moved to the FBO within 15 calendar days, and that a mutual hangar agreement be signed by both of you for the cost of storage in the FBO hangar. If he does not comply, you will submit the matter to authorities for theft. (Keep the communication where he has forbidden use and access of the plane via prohibition of access to the place where it's kept now.)

4. If he moves the plane to the hangar, make sure you take photos of the Hobbs and equipment to know how much time is on the plane since it is back in mutual control. (To document shared cost of use, etc.)

5. If he does not comply, file a police report and contact an attorney (maybe not necessarily in that order.)

Of course, it will be awkward trying to use the plane if you two aren't communicating. He could be using the plane and landing at other airports "overnight" and it would be out of your reach. So with that in mind, and as Badger and other stated, you can also demand that he buy you out of your share. But you'll want an attorney to get involved to sort that out. (and maybe do steps 2 - 4 above first to demonstrate that you've made all reasonable actions to remedy the situation.)

Of course, this is just my opinion. Your results may (very likely) vary. Good luck.
 
My google-fu says “not a troll”....(most likely this story involves a 182).

My intuition says there is waaaaaay more to this story than Mr Hyde lets on. Waaaaaaaaay more....
 
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James Hyde said:
all CFI's are covered on the policy by default.
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That's not 100% correct. Some CFI's need to be named pilots on the plane because they choose not to carry their own insurance.

Plenty of threads here about that.
 
tawood said:
My google-fu says “not a troll”....(most likely this story involves a 182).
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I would bet money on troll. And if I'm wrong? Well sorry 'bout your luck pal. But I'd also bet money it probably wasn't luck that brought this to you. Yeah, I'm a jerk like that.
 
Does the OP have the log books :)

Na...this is definitely a troll post. I gave it one line. You know he's laughing away at everyone. I wish for the sake of valuable information and searchers later on that these could just be deleted.
 
First, tell him you want to fly the plane. When he says no, kick him in the balls until he begs you to quit..
Then kick him in the balls again and say "Quit?.. naw, that ***** don't fly either".


edit: Is this counter-trolling?
 
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James Hyde said:
Good morning,

I'm looking for a little help regarding a plane I co-own (50-50) with a ex-friend! He is denying me access to the plane (it is parked in his hanger). Has anyone else had an issue like this and what did they do?

I know this will probably end up with the lawyers; however, I figured I'd ask and see if anyone with experience of such a problem can shed some light.

thank you in advance.
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Never met a hangar I couldn't get into if I really wanted to. There is your access.
 
Capt. "T" said:
Never met a hangar I couldn't get into if I really wanted to. There is your access.
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Problem with that approach is that the other co-owner has equal rights to the aircraft as well. So, taking it and putting it at another airport without an agreement that it will be kept offsite just ends up with the other guy coming and "stealing it back" again. No way to win this one without lawyers or an amicable split.
 
I'm in the process of buying an airplane with a partner. We sat down with a lawyer to go over our operating agreement as well as a purchase and sales agreement. He said that not only do most partnerships not have a operating agreement, but many aircraft sales have no purchase and sales agreement. That just blows my mind. My partner and I are very good friends, but we wanted to make sure there were no issues, especially if one of us was to meet our demise. That is one less headache our estates will have to worry about.
 
Groundpounder said:
I'm in the process of buying an airplane with a partner. We sat down with a lawyer to go over our operating agreement as well as a purchase and sales agreement. He said that not only do most partnerships not have a operating agreement, but many aircraft sales have no purchase and sales agreement. That just blows my mind. My partner and I are very good friends, but we wanted to make sure there were no issues, especially if one of us was to meet our demise. That is one less headache our estates will have to worry about.
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A few years back when I was thinking about a partnership, the advice of one friend was "make sure you write a partnership agreement with a good exit strategy. If either of you need to liquidate, you have a plan. If the friendship goes south, you have a plan in place to no longer be partners."

I never did follow through on a partnership there, but I have had a couple of verbal agreement partnerships with my brother. We figured both of our financial situations could deal with liquidity issues of the other if they occurred, and our brotherhood would survive other issues. ;) but I wouldn't recommend that type of thing for anyone other than strong family connections when both are willing to deal with financial issues that could occur for the other.
 
James Hyde said:
Good morning,

I'm looking for a little help regarding a plane I co-own (50-50) with a ex-friend! He is denying me access to the plane (it is parked in his hanger). Has anyone else had an issue like this and what did they do?
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1.) What did you do to **** this guy off? Please tell me it did not involve a member of the opposite sex....

2.) Do you owe any money on the plane, hanger, gas, insurance, etc....

3.) What condition have you left the plane in after you have used it? Have you done any damage to the plane?

4.) Am I to understand you own half and he will not let you fly it unless he is in the airplane?

5.) Did you guys draw up a contract and does that contract have a include a dissolution clause or terms of dissolution

At this point, tell him to pound sand, and demand your money back at the current market value of the plane or whatever you have into it if that is more... either way be realistic. And, you better send a certified letter today telling him that you are looking to "dissolve the partnership effective immediately" that should get you off the hook for anything he incurs from the date of receipt forward.

Good luck
 
You guys are falling for a troll post if there ever was one.
 
tawood said:
My google-fu says “not a troll”....(most likely this story involves a 182).

My intuition says there is waaaaaay more to this story than Mr Hyde lets on. Waaaaaaaaay more....
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Sounds like a soap opera!!! Small world ??
 
tawood said:
My google-fu says “not a troll”....(most likely this story involves a 182).
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Please do post a link...

Ravioli said:
That's not 100% correct. Some CFI's need to be named pilots on the plane because they choose not to carry their own insurance.

Plenty of threads here about that.
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Being named on the insurance doesn't necessarily mean anything. I know of insurance policies that specifically disallow coverage for flight instruction given, even if the instructor is named insured. They're covered as a pilot, but they're not covered for giving instruction. Stupid, but that's how it is.
 
tawood said:
Ya either gotta develop your own "google-fu", or take my word that the guy is legit.
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Or neither. Neither works too. Don't believe him. And now, not so sure I believe you either.
 
I think there is a better than average chance the guy is legit as well. Took about 2 minutes of interwebs research to convince me.
 
There's a plane and it's co-owned.. past that, not sure how much is verifiable.
 
We probably shouldn't mention the words Google, Apple, Microsoft, etc., on here either.
They have so much access to everyone's personal contact information, phone numbers, email addresses and mailing/physical addresses that just those words may violate the ROC.

You might try: "Hey Siri, who's the guy that posted the co-ownership thread on PoA"?
 
so apparently he may be legit, but have we been given accurate or enough details to make any kind of intelligent reply? I know 'eman' and 'intelligent' don't usually go hand in hand, but still, HAS to be more to the story than what was presented.
 
is this ex-friend also another type of Ex?... then dude.. you are so royally ...
 
Speaking of 182s, here's a nice looking 182.
347345.jpg
 
James Hyde said:
Yes, I am insured to fly the airplane. The airplane is parked in his hanger on his property and he has said 'do not come onto my property'.
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Is the hangar actually on private property such as a farm or airpark or is it on a public airport such as KHEF in Manassas, VA for instance?
 
azblackbird said:
I'll back Tawood on this... guy is legit. Took about 30 sec. to confirm.
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So I guess I'm still not understanding what the big deal is that a link or search terms can't be posted then. Is the plane owned by someone in witness protection? Is it a Disney exec?
 
Juliet Hotel said:
So I guess I'm still not understanding what the big deal is that a link or search terms can't be posted then. Is the plane owned by someone in witness protection? Is it a Disney exec?
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Prolly for the same reason I can’t understand why a person can’t google it them damn self
 
Juliet Hotel said:
Post the specific search terms you used then.
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If I may interject on this, suppose Wilbur Wright owned an aircraft recently in his own name, which obviously he didn’t, then something like this:

Wilbur Wright site:flightaware.com

or

Wilbur Wright site:aviationdb.com

Hopefully that bit of google-fu does not violate POA rules of conduct.
 
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