How do you determine if your aircraft documents need updated? Ask Questions!
Do you have any of the following aircraft documents?
- Aircraft Dry Lease
- Pilot Services Agreement
- Management Agreement
- Aircraft Timeshare
- Aircraft Interchange
Have any of the following changes occurred?
- Different entities using the aircraft
- Different executives using the aircraft
- Change of entity name
- Change of entity address
- Change of primary contact
Actions to Take If Changes Occurred
If you have any aircraft agreements and changes occurred, it is a good idea to have your aircraft documents reviewed to make sure they are up-to-date.
- Do you need to terminate leases for entities that have been sold?
- Do you need a timeshare for a new executive?
- Do you need to terminate a timeshare for an executive who left?
- Even if the same individuals are using the jet, are they using it for the same business entities as in the past?
After you identify any needed changes, work with your aviation counsel to have your documents updated. Remember to talk with your aviation tax advisor and insurance agent to make sure they are aware of new and terminated agreements.
Please contact Jetstream Aviation Law for legal assistance if your aircraft agreements need updated to match your current operations.
The information provided here is not legal advice and does not purport to be a substitute for advice of counsel on any specific matter. For legal advice, you should consult with an attorney concerning your specific situation.