Originally Posted by
Waltzer
Agreed. I’ve been involved owning aircraft via N reg trusts for 15 years and never had a problem. Very simple. All calendar requirements are dealt with expeditiously and for very reasonable cost. eg, Cert of airworthiness renewals, radio licences etc.
Thanks S-Works and Waltzer! Most helpful answers so far! This guy already owns the aircraft for about 15 years now. So I guess he knows how to handle it. As stated in my above question, the current "owner" is a guy (US citizen) but he is 85 and now my friend is probably concerned that he might pass away. I assume the reason behind asking me if I would be willing to act as the owner of his aircraft, is probably because he want's to save money or he's reluctant and doesn't want do deal with a trust company. My basic question was, what are the responsibilities which would come with an N-reg aircraft ownership (I'm a US citizen) and/or are there any "risks" involved which could bite me in the end? He told me that I don't have to worry about any upcoming costs, he will take care of all that. But how about if there is an accident and he (in this case the operator) would be killed? So they would come after me, right?