Think Mark meant Truth in leasing. It has a lot to do with borrowing/renting someone’s large aircraft. FAR 91.23 and AC 91-37B

https://www.faa.gov/documentLibrary/med ... 91-37B.pdf

Think Mark meant Truth in leasing. It has a lot to do with borrowing/renting someone’s large aircraft. FAR 91.23 and AC 91-37B

https://www.faa.gov/documentLibrary/med ... 91-37B.pdf

Yes. Takes a while. Been there a dozen times.

HOW TO COMPLY WITH TRUTH-IN-LEASING REQUIREMENTS.
1. Prepare the lease or conditional sales contract so that it complies with § 91.23.
2. Mail or deliver a copy of the contract to the FAA Aircraft Registration Branch
(AFS-750), Attn: Technical Section, P.O. Box 25724, Oklahoma City,
OK 73125, within 24 hours of the execution and signing.
3. Provide in-person or telephonic notice to the appropriate FSDO at least
48 hours prior to first flight under the contract.
4. Carry a copy of the contract in the airplane.
5. If you have any questions, check with the nearest FAA FSDO located nearest
to you by searching http://www.faa.gov/about/office_org/field_offices/fsdo/.


The problem is really with the owner. Especially if he was or chose the PIC or SIC. It becomes a 135 flight baiscally. If he just threw you the keys and you brought your own SIC then you would have to produce a lease that was properly filed with OKC and your local FSDO. Also most insurance companies require that they be notified of a dry lease and it costs $1,000 per lease to become insurable.

But let's say he is a good dude and didn't charge you for the plane...still have to have a lease. Without one, he is the operator. The fact that he did't charge you doesn't matter to the FAA. They consider goodwill to be compensation.

My point is do your homework.

As described the flights were most likely not insured and were in violation of the FAR's. The fact that you didn't have an LOA for RVSM is the least of it. Need an LOA for MMEL too.

HOW TO COMPLY WITH TRUTH-IN-LEASING REQUIREMENTS.
1. Prepare the lease or conditional sales contract so that it complies with § 91.23.
2. Mail or deliver a copy of the contract to the FAA Aircraft Registration Branch
(AFS-750), Attn: Technical Section, P.O. Box 25724, Oklahoma City,
OK 73125, within 24 hours of the execution and signing.
3. Provide in-person or telephonic notice to the appropriate FSDO at least
48 hours prior to first flight under the contract.
4. Carry a copy of the contract in the airplane.
5. If you have any questions, check with the nearest FAA FSDO located nearest
to you by searching http://www.faa.gov/about/office_org/field_offices/fsdo/.


The problem is really with the owner. Especially if he was or chose the PIC or SIC. It becomes a 135 flight baiscally. If he just threw you the keys and you brought your own SIC then you would have to produce a lease that was properly filed with OKC and your local FSDO. Also most insurance companies require that they be notified of a dry lease and it costs $1,000 per lease to become insurable.

But let's say he is a good dude and didn't charge you for the plane...still have to have a lease. Without one, he is the operator. The fact that he did't charge you doesn't matter to the FAA. They consider goodwill to be compensation.

My point is do your homework.

As described the flights were most likely not insured and were in violation of the FAR's. The fact that you didn't have an LOA for RVSM is the least of it. Need an LOA for MMEL too.

First paprgraph of the AC that Eric posted.

PURPOSE. This advisory circular (AC) provides information and guidance for lessees
and conditional buyers of U.S.-registered aircraft. While truth-in-leasing requirements are
required by regulation for aircraft weighing more than 12,500 pounds, the Federal
Aviation Administration (FAA) prepared this AC to ensure any person who is seeking to
lease an aircraft understands the meaning of operational control and does not enter into an
agreement where operational control is not clearly maintained by the appropriate party.

First paprgraph of the AC that Eric posted.

PURPOSE. This advisory circular (AC) provides information and guidance for lessees
and conditional buyers of U.S.-registered aircraft. While truth-in-leasing requirements are
required by regulation for aircraft weighing more than 12,500 pounds, the Federal
Aviation Administration (FAA) prepared this AC to ensure any person who is seeking to
lease an aircraft understands the meaning of operational control and does not enter into an
agreement where operational control is not clearly maintained by the appropriate party.

Maybe Mark has done this once or twice

I’ve learned more about flying on beechtalk than anywhere else. Thanks Mark.

In a Part 25 plane, it can't.
25.107(e)(1)(i)

In a Part 25 plane, it can't.
25.107(e)(1)(i)

I start the next part of my aviation journey next week as SIC in a Citation V!
Our first trip is a 4 day from Fort Worth to San Felipe,Mexico. I have been down there several times recently in my plane, so that part is very familiar.
I will be flying with one of our own, Stetson Oates, and I owe him a huge debt for walking me through the whole SIC process ( required in Mexico even though the V has a single pilot waiver). Can't wait to become an official part of the jet crowd!!

Congrats Doug! Please keep us up on the trip

Doug, you’re my hero!
Lots of pics please and comments.