Doesn't appear to me to be much different than being in a partnership on an Outlaw sprint car, which I once was with a cousin of mine. It lasted two years.
Whenever major, unexpected expenses came up, it seemed to always catch one partner at a bad time, so the other partner got honked. Then the other partner had a he11 of a time catching back up.
Then there are simple misunderstandings. I once set an engine block in my cousin's shop in case we needed it. Then a month later I needed it myself for a project of my own. My cousin thought I'd donated the block to the partnership and assumed he owned half of it. We settled it amicably and I got my block back, but it was still an uncomfortable situation.
After two years, we mutually agreed that the partnership was a bummer. I liked it better when I was sole owner of my late model stock car. My driver got a percentage of the winnings, and I was responsible for everything else, win or lose, with nobody else to answer to.
If you do go into a partnership on the airplane, make sure you have an attorney draw up a contract of about ten pages of whys and wherefores, contingencies, if this happens, then that results, etc. I'd personally avoid it like the plague.
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