Bailey & Partners is a California law firm with offices in Santa Monica and Sacramento experienced in Fractional Jet Ownership and Leasing. We have assisted many companies and individuals in their acquisition of fractional jet interests. We also advise companies and individuals on how to create Fractional Ownership programs.

Acquiring fractional jet interests requires familiarity with Federal Aviation Regulations (FARs) as well as contract law.

We advise and guide buyers and lessors as to what is and what is not being acquired, and we help the buyer or lessee negotiate the most favorable deal available, under the circumstances.

There are typically four major agreements which are necessary to the buying or leasing of a fractional jet ownership. Each agreement requires a knowledge of applicable Federal and State laws and regulations and the specific buyer's or lessor's needs.

These agreements are:

1. The Aircraft Lease or Purchase Agreement
2. The Management Agreement
3. The Master Interchange Agreement
4. Various addendums, etc.

Each of the four agreements contain many provisions which affect the acquirer's rights and responsibilities.

There is no standard "one size fits all" fill in the blanks, agreement. Each agreement must be tailor made to fit the buyer's or lessor's specific needs and situation.

Whenever possible, Bailey & Partners tries to charge a fixed, flat fee so the fee can be budgeted and predicted in advance. We prefer to work with counsel and professionals who are familiar with the buyer. We can either advise the buyer's or lessee's law firm, corporate counsel, advisers, or work directly with the buyer-lessee, as the buyer-lessee or their advisers wish.

The law governing Fractional Jet Ownership is essentially Federal, however, there are state peculiarities. Accordingly, unless the buyer is a California company, or individual, or the transaction occurs in California, we strongly recommend the buyer also have local counsel.

We are available as counsel to your counsel, or to your professional advisers, or to the buyer, or lessee.

Depending upon who will be doing what, our fee may vary, but, as mentioned above, we always try to give a flat, or a minimum/maximum figure in advance, depending on the amount of work expected to be necessary.

We are available to work with corporate counsel, outside counsel, CPA's, personal and business managers, transportation managers, and other advisers and consultants to assist with the purchase or lease of a fractional jet interest.