Decide How to Hold Title

Frugal Pilot articles / By Dan Ramsey / 1 minute of reading

Join 1,232+ Passionate Frugal Pilots

Will the plane, hangar rent, and other liabilities be in the name of both partners or an entity? If an entity, will it be a partnership that allows a membership to be transferred (with approval), a limited liability company (LLC), an S corporation, or some other legal entity? Work this all out in advance to make your partnership run smoothly.

QUOTE:
"Man cannot discover new oceans unless he has the courage to lose sight of the shore."
-- Andre Gide

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About The Author

Dan Ramsey

Dan Ramsey is the best-selling author of dozens of books on aviation. He also is a publisher at Mulligan Press. In his spare time, Dan is Airport Manager at a community airport in northern California to help fund his flying habit.