Hangar Lease Agreements

2 Replies - 317 Views

Hangar Lease Agreements

Posted by Stephen Kean on Jul 16, 2017 3:55 pm

Why might the hangar owner's lease include the following:

"I will require a copy of your aircraft insurance policy, showing myself (X.X XXXX) as an additional insured on your policy, with me listed as 'certificate holder"    in the lease agreement and what is meant by certificate holder?

Thanks in advance

Re: Hangar Lease Agreements

Posted by Michael Dunlevie on Jul 16, 2017 10:29 pm

Likely that your landlord grabbed a lease off the web and put in clauses he thought should stay in there.  Typical clause for a number of leases, but not hangar related.

Re: Hangar Lease Agreements

Posted by Stephen Kean on Jul 17, 2017 9:27 am

He dropped the insurance cert req. when he heard I carry only LIABILITY. On the other hand, I copied a ROFR clause ( right of first refusal ) in and he's happy with that. Thanks!