PPRuNe Forums - View Single Post - N-Reg trustee International Air Services - any experience?
Old 5th May 2011, 06:39
  #10 (permalink)  
IO540
 
Join Date: Jun 2003
Location: EuroGA.org
Posts: 13,787
Likes: 0
Received 0 Likes on 0 Posts
I vaguely recall that the individual trust company route requires 75% US ownership, which is normally a bunch of lawyers.

The individual trust company route is used almost universally on upmarket stuff (jets etc) and it protects you from the uncertainty which occurs if/when the trust company owner dies.

When Warren Chmura died, there was a lot of nail-biting. None of the 200-300 N-reg planes owned by SAC could be flown, AIUI, and I certainly did not fly mine.

There may also a general concern about who might end up controlling the company in such a case; some characters in aviation are totally unsavoury. Fortunately SAC came out fine.
IO540 is offline