This is exactly what a partner and I had in our agreement on our Champ. The agreement extended to the loss of one of the partners in that we agreed on a value of the plane annually. If something happened to one partner, the other had the option to buy the other half of the plane for half of the agreed upon value. That was specifically to keep lawyers or family members from getting greedy.
-Jeff On Sat, 19 Feb 2005 17:01:43 -0800 larry severson <lar...@socal.rr.com> writes: > > >There is no "lawyer involved". There are many issues to deal > with, > >particularly in the case where one person dies and the family > decides that > >they do want to get a lawyer to take your plane away from you, when > that is > >something that neither of you wanted to happen. > > One might put in the agreement that the partners agree at the end of > each > year what the plane is valued at to cover such a situation, and > place this > at the bottom of the contract with initials. In the event of the > death of > one, the family will not be able to go after more than 1/2 of that > agreed > price. > > > Larry Severson > Fountain Valley, CA 92708 > (714) 968-9852 > lar...@socal.rr.com > > > _______________________________________ > Search the KRnet Archives at > http://www.maddyhome.com/krsrch/index.jsp > to UNsubscribe from KRnet, send a message to krnet-le...@mylist.net > please see other KRnet info at http://www.krnet.org/info.html > >
