Aircraft share agreement

€85.00
drsWe can check your edited document. Find out more
Comprehensive document to regulate the fractional (shared) ownership of an aircraft.
Compliant
Compliant with the latest law
Document propertied
Document properties
  • Length:16 pages (3235 words)
  • Available in:
    MsWordMicrosoft Word DOCXApple pagesApple PagesRTFRTF
Guaranteed
Backed by our watertight guarantee

If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.

Edit Document
Written in plain English

We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.

Notes
Guidance notes included

You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.

Email
Support from our legal team

We offer free support by email in respect of editing the document. You can also use our Document Review Service if you want to our legal team to check that the document will do as you intend.

Update
Up to date with the latest law

Our documents comply with the latest relevant law. Our lawyers regularly review how new law affects each document in our library.

How our service works
Writing
Edit Your Document
Download your document & complete it at your own pace. Our guidance notes explain what to consider and how to edit.
Investigation
Upload for Legal Review
Let our legal team check that the document does what you intend.
Printing
Print, Date & Sign
Signing the document makes it legally binding.

About this document

This agreement covers any situation where more than one parties share ownership and use of an aircraft for leisure or business. The agreement has been drawn to as to regulate occupation where only one owner uses the aircraft at any one time.  However, there is nothing to prevent other owner sharing time with another owner.

First, you should consider what is the most suitable structure for your sharing proposal.  If you are looking at a commercial arrangement or one for more than ten people, then it would be better to hold the property in a limited company and buy and sell shares in it.  Then ownership of the property itself never changes. No stamp duty is paid once it is bought as the right of occupation can be treated as a licence.

However, running a company does cost money, so between 2 and 10 owners it is a matter of preference as to whether you want the formality, expense and greater certainty of a company structure and shareholders agreement or the lower cost and comparative informality of an agreement like one of these.

Even if ownership of your aircraft is registered with some organisation, the particulars will not record the shares in which the aircraft is held.  So If you own 60% and I own 40% we have to record that in some other document.  If we do not do so, “the Law” will assume we own in the shares in which we contributed to the purchase price.  This may or may not be the same thing.  These Net Lawman agreements specifically record the shares.  They also record shares which may be owned by someone who is not a registered owner. Such an interest is called a beneficial interest.

Application and features

  • Comprehensive fractional ownership document for any type of aircraft
  • Sensible and practical provisions for shared ownership
  • Written in plain English
  • Explanatory notes to guide you

Contents

  • Terms of beneficial interest - beneficial trusts provision
  • Price and payment for the aircraft
  • How many people allowed in the aircraft at one time and who they may be
  • Who and how will manage payment of expenses
  • Purchase of accessories for the aircraft – how they are purchased, whom they belong to
  • Management of the aircraft, including operating costs
  • Undertakings by the parties
  • Timetable in the form of a schedule to allow you to arrange who will have the aircraft when
  • Effect of termination
  • Alternative exit strategies
  • Other legal provisions
© 2000 - 2023 Net Lawman Limited.
All rights reserved