Agreement establishing a fractional share of aircraft ownership, management, and usage rights between a fractional program manager and a fractional owner, including dry-lease exchange provisions.
The Fractional Aircraft Ownership Agreement is a ready-to-use transportation & logistics template you can send for signature in minutes. It is written for 2 signers (program and owner) and, by default, expires 30 days after it is sent if left unsigned. It covers aviation, fractional ownership, aircraft share, faa, part 91k, dry lease. Like every Abundera Sign template it is a convenience draft structured for ESIGN Act and UETA compliance, not a substitute for legal advice. Each signed copy is sealed with PAdES-LTA digital signatures, dual RFC 3161 timestamps, and a tamper-evident evidence package in WORM storage.
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# Fractional Aircraft Ownership Agreement This Fractional Aircraft Ownership Agreement ("Agreement") is entered into as of ___________ by and between: **Program Manager:** ___________, a ___________ organized under the laws of ___________, with principal offices at ___________ ("Program Manager"); and **Fractional Owner:** ___________, a ___________, with a principal address of ___________ ("Owner"). --- ## 1. Regulatory Framework Fractional ownership programs involving aircraft with a maximum certificated takeoff weight (MCTOW) greater than 12,500 lbs and at least two owners are governed by 14 C.F.R. Part 91 Subpart K ("Part 91K"). Operations under this Agreement shall comply with Part 91K, applicable FARs, and the Program Manager's approved management specifications (MSpecs). Flights conducted under the dry-lease exchange arrangement described herein are conducted under Part 91 (not Part 135) by the lessee-entity as operator-in-command, unless the Program Manager holds a separate Part 135 certificate for specific flight operations. --- ## 2. Aircraft — Reference Aircraft and Fleet ### 2.1 Reference Aircraft The aircraft in which Owner acquires a fractional interest under this Agreement is: | Field | Details | |-------|---------| | Year / Make / Model | ___________ | | FAA Registration Number (N-Number) | ___________ | | Aircraft Serial Number | ___________ | | MCTOW (lbs) | ___________ | | Maximum Passenger Capacity | ___________ | | Based Airport (ICAO) | ___________ | ### 2.2 Dry-Lease Exchange Fleet As part of the fractional program, Owner may use any aircraft in the Program Manager's fleet of the same or equivalent category and class through a dry-lease exchange arrangement. All exchange aircraft meet or exceed the performance specifications of the Reference Aircraft. Applicable exchange aircraft are those listed in Program Manager's then-current fleet disclosure, a copy of which is provided to Owner at execution and updated no less than annually. --- ## 3. Fractional Share ### 3.1 Share Acquired