Selling A/C Shares
10-01-2007, 04:41 PM
#1
Gets Weekends Off
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Joined APC: Jul 2007
Position: C402, on the side with the switches!
Posts: 433
Selling A/C Shares
Hypothetical scenario:
I have an airplane that I want to sell off to four people for 1/4 shares. I won't be one of the four owners, I want to totally get rid of it.
I've never sold an aircraft before. What's the easiest way to get four owners, probably from different states, on one title? Or, do I have to put the title in the name of only one of them?
Essentially: What's the easiest way to sell off my airplane as four shares?
I have an airplane that I want to sell off to four people for 1/4 shares. I won't be one of the four owners, I want to totally get rid of it.
I've never sold an aircraft before. What's the easiest way to get four owners, probably from different states, on one title? Or, do I have to put the title in the name of only one of them?
Essentially: What's the easiest way to sell off my airplane as four shares?
10-01-2007, 06:35 PM
#2
Gets Weekends Off
Joined APC: Jan 2007
Position: FO
Posts: 117
If you want to get rid of it, then why sell it as four parts? Sell it whole. Selling it whole I would think would out-weigh the headache trying to sell it to four buyers.
If you already have four buyers lined up, then I would consult a lawyer. Perhaps, on the title you would write the name of the owner's group, which would be defined in the contract written up by the lawyer.
If you already have four buyers lined up, then I would consult a lawyer. Perhaps, on the title you would write the name of the owner's group, which would be defined in the contract written up by the lawyer.
10-02-2007, 02:53 AM
#3
Gets Weekends Off
Joined APC: Oct 2006
Position: Citation II
Posts: 315
I know nothing about buying and selling airplanes, but I did stay in a Holiday Inn Express last night.
If you have four buyers already (and maybe even if you don't), you may want to let them decide how to structure it. They may want to form a corporation to title the aircraft and then they would all pay into the corporation. Or, they may want one person to handle the purchase and then when it's complete, he/she would sell the remaining three shares out.
If you have four buyers already (and maybe even if you don't), you may want to let them decide how to structure it. They may want to form a corporation to title the aircraft and then they would all pay into the corporation. Or, they may want one person to handle the purchase and then when it's complete, he/she would sell the remaining three shares out.
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