As some of you know, I went through a spasm of trying to figure out how to come up with the cash to either buy out my partner, or sell out to him and buy another airplane. As I could not finagle any kind of somewhat intelligent means of acquiring the cash, I gave up on the idea.
Our partnership is kind of unusual. Vince fronted the cash, I am buying in on contract.
We met yesterday to discuss the upcoming annual and some things we want to do with the airplane (I thought). Turns out, he is thinking of selling out to me. He hasn't quite made up his mind.
If we did that, we would simply re-write my contract to include the original purchase cost of the airplane, instead of half of it. He would continue to contribute to hangar rent, as he has an ultralight he would like to keep in there.
Two years ago I could not have shouldered the full cost of keeping an airplane. My situation has changed somewhat since then, so I can handle it.
Werks fer me!
Reg
