"Robert M. Gary" wrote in message
om...
"Kyle Boatright" wrote in message
...
"TTA Cherokee Driver" wrote in message
...
My opinion is that you can't write a specific enough agreement to
cover all
situations, so you'd better look for a reasonable partner and go in with
a
basic agreement on the handful of important things.

Its not your partner you need to worry about, its the guy he sells his
share to in the future. I had a guy try to buy a partners share that
wanted to build retract time for the airlines (not sure who told him
that). He was going to borrow money from his father to buy it, try to
get 500 hours in 2 years and then sell it. Luckily, I talked my
partner out of selling to him ( I was also willing to buy it at his
price).

-Robert

I forgot to mention that we had a right of first refusal to buy the other's
half when someone decided to sell. If you've got that right, and it is
within your means (even for the short term) always exercise it so you can
control who becomes your next partner.

KB