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From: "Dennis Johnson" <pinetownd@volcano.net>
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Subject: LII Resale Agreement
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I agree with Mark that Lancair's decision to apply the $300 transfer fee =
to a credit for parts purchases is a good move.  I thank the new owner =
for that!  However, in my opinion the $300 was never an issue.  The =
following is a quote from their resale agreement:

Further, the new purchaser of a flying Lancair aircraft or an =
uncompleted kit, and prior to the
aircraft being transferred, must agree to have either flying Lancair =
aircraft or upon first flight of an
uncompleted kit inspected by our insurance inspection team. The new =
purchaser must also agree to
participate in any Lancair endorsed training program.

These two requirements are, it seems to me, potentially very expensive.  =
An inspection by Lancair's "insurance inspection team" could be =
thousands of dollars.  The paragraph is awkwardly worded.  It says the =
buyer must agree to have the inspection, but it doesn't say the =
inspection has to be completed and it doesn't say the airplane has to =
pass the inspection. =20

One of the benefits of building my own experimental airplane is the =
privilege of using materials and techniques of my own choosing, with =
nobody (except the FAA, sort of) looking over my shoulder.  Although I'm =
confident my relatively small modifications from the official plans =
would be acceptable to Lancair, there's always the possibility that some =
future Lancair owner (we're now on the third since I've been building) =
could decide any changes from the plans, no matter how insignificant, =
must be "corrected" before allowing the new purchaser to register the =
airplane.  I'm not comfortable giving up that much power to Lancair.  =
It's my airplane, not theirs. =20

The resale agreement also says that the purchaser "must also agree to =
participate in any Lancair endorsed training program."  Holy moly, =
that's a requirement limited only by the imagination of Lancair. A new =
owner could also decide, for some insurance purpose perhaps, that the =
"Lancair endorsed training program" would require who knows how many =
hours in a Lancair, completed at Redmond. =20

The inspection requirement, particularly if it includes a requirement =
that the inspection must be "passed," and the unbounded training =
requirement, could cost a seller thousands of dollars, and possibly tens =
of thousands.  And I think the cost will fall on the seller, even if the =
purchaser is the one who writes the check.

Dennis    
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<DIV>I agree with Mark that Lancair's decision to apply the $300 =
transfer fee to=20
a credit for parts purchases is a good move.&nbsp; I thank the new owner =
for=20
that!&nbsp; However, in my opinion the $300 was never an issue.&nbsp; =
The=20
following is a quote from their resale agreement:</DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT color=3D#0000ff>Further, the new purchaser of a flying =
Lancair aircraft=20
or an uncompleted kit, and prior to the<BR>aircraft being transferred, =
must=20
agree to have either flying Lancair aircraft or upon first flight of=20
an<BR>uncompleted kit inspected by our insurance inspection team. The =
new=20
purchaser must also agree to<BR>participate in any Lancair endorsed =
training=20
program.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>These two requirements are, it seems to me, potentially very=20
expensive.&nbsp; An inspection by Lancair's "insurance inspection team" =
could be=20
thousands of dollars.&nbsp; The paragraph is awkwardly worded.&nbsp; It =
says the=20
buyer must agree to have the inspection, but it doesn't say the =
inspection has=20
to be completed and it doesn't say the airplane has to pass the=20
inspection.&nbsp; </DIV>
<DIV>&nbsp;</DIV>
<DIV>One of the benefits of building my own experimental airplane is the =

privilege of using materials and techniques of my own choosing, with =
nobody=20
(except the FAA, sort of) looking over my shoulder.&nbsp; Although I'm=20
confident&nbsp;my relatively small modifications from the official plans =
would=20
be acceptable to Lancair, there's always the possibility that some =
future=20
Lancair owner (we're now on the third since I've been building) could =
decide any=20
changes from the plans, no matter how insignificant, must be "corrected" =
before=20
allowing the new purchaser to register the airplane.&nbsp; I'm not =
comfortable=20
giving up that much power to Lancair.&nbsp;&nbsp;It's my airplane, not=20
theirs.&nbsp; </DIV>
<DIV>&nbsp;</DIV>
<DIV>The resale agreement also says that the purchaser "must also agree =
to=20
participate in any Lancair endorsed training program."&nbsp; Holy moly, =
that's a=20
requirement limited only by the imagination of Lancair.&nbsp;A new owner =
could=20
also decide, for some&nbsp;insurance purpose perhaps,&nbsp;that the =
"Lancair=20
endorsed training program" would require&nbsp;who knows how =
many&nbsp;hours in a=20
Lancair, completed at Redmond.&nbsp; </DIV>
<DIV>&nbsp;</DIV>
<DIV>The inspection requirement, particularly if it&nbsp;includes a =
requirement=20
that the inspection must be "passed," and the&nbsp;unbounded training=20
requirement, could&nbsp;cost a seller thousands of dollars, and possibly =
tens of=20
thousands.&nbsp; And I think the cost will fall on the seller,&nbsp;even =
if the=20
purchaser is the&nbsp;one who writes the check.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Dennis&nbsp;&nbsp;&nbsp; </DIV></BODY></HTML>

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