Leaseback Contracts

  • Thread starter Thread starter KennyFlys
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KennyFlys

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I'm looking at doing a deal with one of my students who is a newly certificated pilot and now owns his own Skyhawk.

I'm wanting to look at sample leaseback contracts. Does anyone have such examples he and I can look at?

We'd like to keep it relatively simple where he gets most of the benefit and all I do is collect the fees and dump everything but CFI fees into an account. All I'd handle on payout is the fuel.

I read Jason's article... good stuff!

I appreciate any help I can get. Thanks in advance.
 
Check out the AOPA website. I think there are some hints and tips there. PM me with your email and I can drop you a copy of mine. Not too elaborate. Maintenance and insurance are my responsibility. Plane is rented wet (their responsibility). I pay $9 an hour towards the annual and 100 hour. 55% is mine (this of course required a fee increase).
 
silver-eagle said:
Check out the AOPA website. I think there are some hints and tips there. PM me with your email and I can drop you a copy of mine. Not too elaborate. Maintenance and insurance are my responsibility. Plane is rented wet (their responsibility). I pay $9 an hour towards the annual and 100 hour. 55% is mine (this of course required a fee increase).
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It's on the way. Thank you.
 
A leaseback contract not crafted by an attorney familiar with the laws of your state can get you into more trouble than the best attorney in the world can get you out of. While the contracts used by others may be useful in identifying issues to cover in yours, and possible ways of covering them, you can't just change the names and use someone else's contract without taking significant legal risks. If you do collect such sample contracts, highlight the issues and points you find worth covering, and take them all to your attorney for crafting into a good, enforceable contract that will meet your legal needs.
 
Ron Levy said:
A leaseback contract not crafted by an attorney familiar with the laws of your state can get you into more trouble than the best attorney in the world can get you out of. While the contracts used by others may be useful in identifying issues to cover in yours, and possible ways of covering them, you can't just change the names and use someone else's contract without taking significant legal risks. If you do collect such sample contracts, highlight the issues and points you find worth covering, and take them all to your attorney for crafting into a good, enforceable contract that will meet your legal needs.
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That's kind of what I want to do... look at what different leaseback options entail and see what would work best for our given situation.
 
Kenny, I just PM'd you the email address of a very good aviation lawyer friend of mine in Spring. He and his partner have a law office in a hangar at DWH.
 
Ron Levy said:
A leaseback contract not crafted by an attorney familiar with the laws of your state can get you into more trouble than the best attorney in the world can get you out of. While the contracts used by others may be useful in identifying issues to cover in yours, and possible ways of covering them, you can't just change the names and use someone else's contract without taking significant legal risks. If you do collect such sample contracts, highlight the issues and points you find worth covering, and take them all to your attorney for crafting into a good, enforceable contract that will meet your legal needs.
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+1.

Also don't forget to talk to your insurance company...
 
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