Buying a commercial aircraft or private jet can be an expensive transaction, so many people opt to spread the cost and buy as a group, or as a syndicate.
However, without the experience of an Aviation Solicitor, you’re going to find the process much more laborious than first thought. A comprehensive agreement concerning all parties must be in place. And yet, this is where the issues arise.
All too often, an informal agreement can result in a costly and unpleasant dispute over maintenance, or who pays for what, or where the aircraft may be kept, and multiple other pitfalls.
Yet, with our vast experience in Aviation Law, we’ve enabled this process to run smoothly for numerous groups of people, avoiding any disputes along the way.
For initial legal advice get in touch with our Aviation Solicitors.
More Information on Group Ownership of Aircraft
When you’re buying an aircraft as part of a group, there’ll be plenty of things you’ll need to consider first, such as where your aircraft is going to be based. You may all live in different parts of the country, so who is going to be responsible for maintaining the aircraft?
Does everybody in your group have prior flying experience? How are decisions going to be made about upgrading the aircraft? What level of insurance is required?
These are just some of the issues you’ll need to think about and it can be a bit of a minefield. However, our Aviation Solicitors can help you tick off each box, ensure every form is filled out and get it all done in a swift timeframe without any undue delays.
At Simpson Millar, our Aviation Solicitors can draw upon years of expertise to ensure your aircraft purchase gets off the ground quickly.
We have a strong understanding of air transport and UK Civil Aviation Authority regulations and have advised many airlines, private businesses and private individuals with our friendly approach.
Our specialist team will work tirelessly to ensure all contractual arrangements are in place and we will offer continual support during and after the acquisition of the aircraft.
Our Aviation Solicitors are recommended in the Legal 500 for their aviation expertise.
Q – What are the benefits of group ownership?
A – Jointly owned aircraft can be registered in the name of each individual owner, but it’s advised when there are three or more individual owners to form a co-ownership syndicate. Should a member join or leave the group, the aircraft need not be re-registered, and thus avoiding a registration fee.
Q – What is the aircraft register?
A – The UK Register of Civil Aircraft is not a register of legal ownership, and therefore registration of ownership does not constitute proof of ownership of a particular aircraft.
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