About to buy a share for the first time. Checklist?
Hi All,
I'm about to buy a share in an aircraft.
The aircraft is owned by an individual rather than a LTD company, and is intended to be transferred to a LTD co once all the share slots are filled. So I would be writing a cheque to an individual in return for a receipt confirming my part ownership of the aircraft.
I've met a couple of the members, and they seem like great guys, and had a fly in the aircraft which seems fantastic. I've also had access to the online booking system and there appears to be lots of availability.
I would very much appreciate some pointers from people with experience of group ownership.
1) Is the personal ownership vs. LTD co ownership ok / does it carry any risks?
2) How do I verify that the owner does indeed own the aircraft?
3) Is there a good resource where I can find a checklist for checking out an aircraft prior to purchasing a share?
Thanks in advance.