[WANTED] Aircraft Owner LLC Agreement

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210pilot

Filing Flight Plan
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Aug 21, 2018
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210pilot
A partner and myself are looking to form an LLC to own an aircraft, and use it to dry lease to our respective companies. I'm having a hard time finding someone with a good boilerplate LLC operating agreement (lots of aircraft partnership agreements, but not any LLC operating agreements).

I know for a fact there are tons of LLCs out there doing this, just by looking at the FAA registry database. Wondering if anyone would be so kind as to share theirs with me (either here or privately). Can be redacted/changed if you need to, I just want to see the structure of it.

Thanks in advance!!
 
Like Mike says, we used an attorney. Any reason you don't want to do it that way?
 
Rushie said:
Like Mike says, we used an attorney. Any reason you don't want to do it that way?
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You'd have to find one in the state of incorporation that doesn't also do divorces and traffic tickets.
 
It's a legitimately complex legal arrangement; use a lawyer.

Use a lawyer in the state in which the aircraft will be kept.

Don't double-down on stupid by falling for the "incorporate in Delaware and save taxes" myth.

You can easily fall into the trap of being treated as an unlicensed 135 operation, from your initial description.

Use a lawyer.
 
Thanks everybody, I went ahead and retained an aviation attorney and sorted this out.
 
By the way, I used the aopa co-ownership agreement that's linked from the aopa website!
 
210pilot said:
By the way, I used the aopa co-ownership agreement that's linked from the aopa website!
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We used parts of that and parts of one found on a Beechcraft site as examples... pulled the parts out that were not applicable to our situation, added a few things that were. We had an attorney go through and clean that up and do the paperwork and filing for the LLC. Since the airplane will last well past our retirement dates (and quite possibly our expiration dates as well) some of our concerns were making it simple and straightforward to handle adding new owners and/or airplanes, owners leaving and selling their interest, owners croaking, etc.
 
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