Lease Agreements

[AggieMike88]

As TexasAg93 and I work on getting Denton Flying Club going, we've come across an aircraft owner who has expressed interest in leasing his DA20 to us.

Does anyone have any lease agreements or templates they are willing to share?

And for the gallery, discussion on clauses or bullet points to include is welcome.

We have found a few examples across the wide wide webz and each has pieces we might pull from. So we figured seeing a few more (especially ones where lessee and lessor are happy with) would help us.

 

[poadeleted20]

Many aircraft dealers have lease agreements they like to use, but generally those are skewed heavily in favor of the FBO/flight school and against the owner. I think AOPA has some samples in their aircraft ownership guide, but I have no idea how they were constructed. My advice on this is to take a look a J. Scott Hamilton's "Practical Aviation Law, 4th ed.," which has a section taking about issues which should be addressed in such deals. You can use the AOPA and dealer agreements as background, too. Then make a list of how you want to handle all those issues, and take it to an aviation attorney in the state where the deal is being made and get it written so what you want is what you actually get.

 

[AggieMike88]

Cool.... Thanks Ron...

I've seen you recommend that book more than once. Now I might have a reason to purchase a copy

 

[wabower]

Find a copy that you can read before you spend $40. It's probably a fine aviation law 101 textbook or overview material but of very limited value for what you want.

Cool.... Thanks Ron...

I've seen you recommend that book more than once. Now I might have a reason to purchase a copy

 

[Ken Ibold]

Just to underscore one of Ron's points more fully ... make absolutely sure you vet any agreement with a lawyer familiar with your state's laws. In many cases, templates for legal documents lure people into believing they have a contract that they do not, in fact, have.

 

[wabower]

And go into the deal with the intent to make it attractive for the plane owner. All of these deals have a short fuse re termination, as neither lessor nor lessee will sign up for anything that obligates them long-term if the deal isn't working out as they hoped.

 

[AggieMike88]

And go into the deal with the intent to make it attractive for the plane owner. All of these deals have a short fuse re termination, as neither lessor nor lessee will sign up for anything that obligates them long-term if the deal isn't working out as they hoped.

Roger that.

 

[AdamZ]

Just to underscore one of Ron's points more fully ... make absolutely sure you vet any agreement with a lawyer familiar with your state's laws. In many cases, templates for legal documents lure people into believing they have a contract that they do not, in fact, have.

And go into the deal with the intent to make it attractive for the plane owner. All of these deals have a short fuse re termination, as neither lessor nor lessee will sign up for anything that obligates them long-term if the deal isn't working out as they hoped.

Ding Ding Ding! Both of the above are great pieces of advice. I think I have a sample lease agreement I drafted If I can find it I'll send it to you but keep in mind it was drafted for a club in PA so as Ken said you would need counsel in TX to review and revise as necessary. The funds spent on counsel will be funds well spent.

 

[csikes91]

I have one I can share with you. PM me your email addy and I will send it over

 

[JHW]

at the other end of the spectrum is the one I reciprocate with my neighbor which has 3 parts:

1. take my plane anytime you want but leave me onw of yours to use while you're gone
2. bring it back with more fuel than it left with
3. fix anything you break

It's worked fine for 15 years. The only downside is that my family has gotten used to his 414 and are less enamored with our little travel air.

 

[AggieMike88]

The only downside is that my family has gotten used to his 414 and are less enamored with our little travel air.

yeah, my flight to/from Gaston's in Dave's King Air kinda changed my perspective too

 

[Ateaist]

The funds spent on counsel will be funds well spent.

I will copy this and send to all my former clients!