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QUICK FACT SHEET JOINT OWNERSHIP OF AIRCRAFT GENERALLY SPEAKING: Joint ownership of an aircraft permits one of the joint owners to employ and furnish the flight crew for the aircraft under Part 91

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How to fill out joint ownership of aircraft

01

Gather all necessary documents such as aircraft registration, proof of insurance, and ownership agreements.

02

Determine the percentage of ownership each party will have and draft a joint ownership agreement.

03

Ensure that all parties involved have a clear understanding of their responsibilities and obligations.

04

Complete the necessary paperwork, including the Federal Aviation Administration (FAA) forms.

05

Submit the paperwork and necessary fees to the FAA for approval and registration.

06

Maintain open communication with all joint owners to ensure proper maintenance and operation of the aircraft.

07

Regularly review the joint ownership agreement and make any necessary updates or amendments as needed.

Who needs joint ownership of aircraft?

01

Individuals or organizations who want the benefits of aircraft ownership but do not want to bear the full financial burden alone.

02

Businesses or groups who require the use of an aircraft for transportation or other purposes, but do not need full-time or exclusive ownership.

03

Pilots or aviation enthusiasts who want to share the costs and responsibilities of aircraft ownership with others.

04

Friends or family members who wish to jointly own an aircraft for personal use or recreational purposes.

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What is joint ownership of aircraft?

Joint ownership of aircraft is when two or more parties share ownership of an aircraft.

Who is required to file joint ownership of aircraft?

All parties involved in the joint ownership of an aircraft are required to file the necessary paperwork.

How to fill out joint ownership of aircraft?

To fill out joint ownership of aircraft, parties must provide information about the co-owners, the aircraft details, and sign the necessary documents.

What is the purpose of joint ownership of aircraft?

The purpose of joint ownership of aircraft is to share the costs and responsibilities of owning and operating an aircraft.

What information must be reported on joint ownership of aircraft?

Information such as the names and contact information of the co-owners, aircraft registration number, make and model of the aircraft, and any financing arrangements must be reported.

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