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Mutual Help List, Hangar Construction
- From: Emily Reischman <EReischman@xxxxxxxx>
- Date: Wed, 11 Mar 2015 11:28:55 -0500
- Accept-Language: en-US
- acceptlanguage: en-US
At what cost does it go on the books? I'm not sure the owner will say what he
spent exactly. Would I get an appraisal?
[mailto:help-owner@xxxxxxxxxxxxxxxxxxxxxx] On Behalf Of Ken Ross
Sent: Wednesday, March 11, 2015 9:40 AM
Subject: RE: CAA: Mutual Help List, Mutual Help List, Hangar Construction
I have typically seen the hangar go on the airport's books immediately. You
should also be a named insured on any policies that the tenant is required to
maintain. As to whether or not you should also insure is another question that
you should take up with your broker. Maybe not if you have enough comfort that
the tenant is adequately protecting you. If there is a lien or a mortgage,
they will get the first bite of the apple so you may want to insure it make
sure you are whole in the event of a total loss.
[mailto:help-owner@xxxxxxxxxxxxxxxxxxxxxx] On Behalf Of ereischman@xxxxxxxx
Sent: Wednesday, March 11, 2015 10:08 AM
Subject: CAA: Mutual Help List, Hangar Construction
We have leased acreage to a tenant who is building a hangar. The lease term is
25 years. At the end of the lease, the hangar will be property of the airport.
How/when is the hangar recorded on the airport's books. They will be paying a
monthly fee for the property.
Find past Mutual Help topics in the CAA Help Forum
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