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I bought an Airplane from an owner back in October of 2017.

Customer Question
Hello I bought an...

Hello I bought an Airplane from an owner back in October of 2017. I'm on the Bill Of Sale and also under the FAA Registry it show's my P.O. BOX and also my last name and First name. In January of 2018 I took on a partner which on a note paper had contract in pencil which I signed to make her a 50% partner. But she is not on the bill of sale or on the FAA Registry. If we go to court how would the judge determine the case?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

I'm in California.

Lawyer's Assistant: What steps have you taken so far?

I haven't done anything as of yet. I'm trying to get out of this contract with her and the reason is because of Liabilty.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Also she wanted to wanted to put the aircraft in LLC. But if there is a crash I'm protected from a Wrongful Death Suit?

Submitted: 3 months ago.Category: Legal
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4/21/2018
Lawyer: DamienJD, Attorney replied 3 months ago
DamienJD
DamienJD, Attorney
Category: Legal
Satisfied Customers: 5,442
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Hello: My name is ***** ***** I am an attorney.

If you bought a plane, the plane is your personal property, unless an incorporated business bought the plane. So it is unclear what you mean about taking on a new partner unless you have a business. I presume that you mean that the plane is used in a business. Also, a note (or note paper) is usually considered a loan and not an investment (a sell of shares or membership interest; or if a partner agreement, then an investment in the partnership). So, it seems working with apples and oranges here, or not all t's are crossed and i's are dotted. Possibly, you can clarify.

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Customer reply replied 3 months ago
I bought the plane for $2000 and she came in for 50% ownership of the aircraft for $1000. The reason I want to cancel this partnership is because of Liability. She wants to use the plane for flight training and if somethings happens I will be facing a Wrongful Death Suit. She said we could a LLC together but that doesn't prevent a Wrongful Death Suit.
Lawyer: DamienJD, Attorney replied 3 months ago

A wrongful death suit would be against the LLC but there could still be a potential personal liability if the plaintiff "pierces the corporate veil" to get to the owners, although that would be an extra step and there is no guarantee that a plaintiff would win that argument.

In any event, it sounds like you sold her half ownership in the plane. The name change would have been your responsibility with the registry so that would not supply evidence that she does not own half the plane. You have the note that is the evidence she owns half the plane.

If you want to end the relationship, it appears that one of you would have to buy out the other one.

We can discuss this more if you want to do so.

If you have further questions or you need further assistance, just let me know.

If not, please remember to rate my answer between 3 to 5 stars without any additional costs to you. That is how I get credit for answering your question. Best regards.

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