Serious Partnership Problem

[Areeda]

A progress report. I've talked with the other co-owners and I think we'll be able to work this out. Both of the ones with the conflict have agreed that they can live with each other, although they still have hard feelings. None of us want to give up access to the aircraft.

As far as sole ownership versus co-owners, I think Lance said it best. I could not afford this plane on my own and I appreciate splitting the work as well as the money. The comradery and shared responsibilities are a pleasure. The inevitable conflicts are hopefully a small price to pay. A good agreement in the beginning, which we have, gives us a way to exit if the price of the conflicts gets too high.

A good partner is a gold mine. As someone said above it's more important to pick the right partner(s) than it is to pick the right airplane.

My father, a wise man, once told me that the only reason to have partners in anything is because you have to.

Joe

 

[wabower]

I can't remember all the co-ownership deals I've been part of, and only one ever fequired any "serious agenda" meetings--and only two were required. No hard feelings even then, just getting back on track because the new bookkeeper didn't devote the necessary time to the task.

From a utilization standpoint, most airplanes are grossly underflown, even with several co-owners, if you start counting after 90 days or so of ownership when the "new" has worn off. My advice to new groups is to tell each member to assume that he will own the airplane for two months before he flies it. By then he will usually pretty much have it to himself.

A good partner can make aircraft ownership even more enjoyable. It can be really nice to have someone to share the effort of washing and other maintenance, not to mention splitting the fixed costs in half. If you can live with the schedule conflicts and are able to find a compatible partner (it helps a lot if you are compatible yourself) a two or three way ownership could work well. But like you, these days I prefer the total control and lack of conflicts (personality and/or scheduling) provided by sole ownership and only reflect fondly on my partnership days when a big bill comes along.

 

[Everskyward]

I think the success of a partnership not only has to do with your co-owner's personality but also your own. Some people are less good at sharing and giving up control, me among them. How you feel about the airplane is probably also a factor. Is it just a business item or do you have some sort of personal feeling about it?

 

[wabower]

I've only done one airplane deal with people I didn't know pretty well first, which eliminated most of the surprises. The first one was a 172 in 1964, and I'm currently the co-owner of an L-2 that we've owned since the 80's. My philosophy is that friendships are much more important than airplanes, and that good deals have to be good for everybody.

I've belonged to quite a few golf clubs too, and have never cared who else played them when I was doing something else--as long as they fixed their divots and ball-marks.

I think the success of a partnership not only has to do with your co-owner's personality but also your own. Some people are less good at sharing and giving up control, me among them. How you feel about the airplane is probably also a factor. Is it just a business item or do you have some sort of personal feeling about it?