YouTube | Advocate Consulting Legal Group, PLLC - The Aviation "TLC" Provider- Part 9

Can I send in my aircraft registration renewal application early?

Transcript:

The FAA recommends that aircraft registration renewals be submitted five months before the registration expires. This way, if there are any problems, there’s time for a back and forth with the FAA to clear them up. While it may be tempting to get even more time or to just have the matter taken care of far in advance, the FAA doesn’t really allow it. They’ve indicated that applications sent more than six months before expiration maybe returned to the owner who will have to refile them when the time comes.

Can I lease my aircraft to third parties?

Transcript:

Leasing is extremely common in the aviation industry. Some useful guidelines are that the lessor generally provides the plane solely as a piece of equipment. Meaning, they do not provide the customer with a pilot or collude with anyone else to do so. Stakeholders in the plane, beyond just the owner, should be consulted. If the plane is financed, you must get bank approval before entering a lease. The company insuring the aircraft should also be involved and may need to add the lessee as an additional insured.

Can a private pilot receive reimbursement from their passengers?

Transcript:

The FAA severely limits compensation a private pilot can receive and for this purpose, reimbursement counts as compensation even if the pilot’s still loses money. However, some reimbursement can be allowed for flight costs of fuel, oil, aircraft expenditures, and rental fees, so long as the pilot personally pays no less than their per capita share. In other words, the pilot and the passengers can evenly divide these costs between them.

Can an experimental aircraft be flown for business?

Transcript:

There can be some limitations on the operation of experimental aircraft being flown for business. That said, the FAA’s primary concern is about the safety of any passengers. If you’re piloting an experimental aircraft and it meets the missions of your business, that is, you can use it to travel in a manner that’s appropriate for your business, there is no limitation on the ability to take federal tax deductions or to operate the aircraft safely for business.