I am ready to enter into a partnership with an individual that already owns the airplane. What process and forms need to be filed to complete this arrangement?
Thank you, Kurt
3 Replies
AOPA Pilot Information Center receives purchase contacts daily from our membership. In those conversations, the terms partnership and co-ownership are used interchangeably. However, in FAA parlance, a partnership is a business entity. Whereas, a co-ownership is just more than one person owning an aircraft together. In over 95% of the cases, the members are just looking to own an aircraft together, which is properly referred to as a co-ownership, and the registration application should reflect that as the type of registration. 
Thanks for the info. This really helps.
1012 Posts
It all depends on how the aircraft is currently owned and what sort of ownership arrangement you are forming, and there are a lot of co-ownership options, including partnership, co-owner, and various corporate entities.  Here's some information to get started.