Fractional Ownership for Training

[highfinal]

Afternoon all,

After spending some fruitless hours searching google and pprune, and the nbaa requiring a membership before dispensing with their wisdom, I was hoping some of you could help me out.

I am interested in become a part owner of a 2 seater piston to be used exclusively for training. The aircraft would be owned by various individuals, hangared at a flight school who would then provide maintenance, insurance and instruction, and also be used by them for training when the owners aren't flying.

Is there any resource for the kinds of arrangements possible, ie, is it better to receive income to a LLC holding the aircraft, or reduced cost to operate for the owners? What kinds of legal documents, insurance information/hazards, cost sharing arrangements do we need to know about?

I'd love to hear from any one who has done this, thanks for your help

[ReverseFlight]

I think this topic has been discussed many times on Pprune. This is just my 2 cents' worth.

Depending where you are, if you are looking towards the flight school to supplement your maintenance and insurance, you could end up with the flight school giving the lowest priority to your aircraft in terms of flying but the highest priority when it comes to switching spare parts to keep their own machines running (assuming they use the same type in training).

Good luck.