I’m wavering between a ‘membership’ with one of the fractional ownership companies. OurPlane and AirShares. Here are my thoughts, please respond and help me decide.
- I’d very much like to do a straight partnership in a Cirrus SR22 in the TampaBay area, if I could only find 2 o3 3 worthy partners.
- The main difference of ourplane and airshares is the ownership/use license. OurPlane offers a ‘use license’ which would theoretically shelter me from liability if another partner would say crash into a school bus. AirShares offers straight ownership, with each of the 8 owners actually on title. No shelter from liability. Although my attorney, like most attorneys always thinks of doom and gloom first, and really liked the use license for Ourplane. I’m also concerned that if Ourplane were to go out of business, I’d have nothing. If airshares went out of business, I’d at least be 1 of 8 actually on title to the plane. I have to weigh the possibilities of crash/co. going out of business. I think I’ll accept the liability as I figure the chances are 1 in a 1000 for a crash, and then hopefully the plaintiff will go after deeper pockets than mine first. One of the fractional companies going out of business might be more like 50/50. I’d prefer Airshares for this reason.
- The OurPlane salesman locally is a buddy. I’ve been assured that if for some reason I had to leave the program early, he’d help facilitate the sale of my share. But, how long can my buddy stay with them…if he’s having a hard time selling the partnership.
- I want the plane 'yesterday." Airshares promises a plane sooner than OurPlane. I just don’t want to wait around.
- Call me the generalizer…but every Candian I’ve ever met and had contact with here in Florida just ‘didn’t get it.’ My theory is that their brains are frozen. I’m concerned with having any dealings with a Canadian. The owner/CEO of Ourplane is from Canada.
Can anyone offer some insight? I need help.