By Joseph E. (Jeb) Burnside

Owning an airplane can be a real pain. There are costs for insurance, tiedown/hangaring, annual inspections and debt service, all of which are incurred before the engine even turns over. Add in the hourly costs of fuel, oil, tires, unscheduled maintenance and overhaul reserves, and it’s a wonder anyone even wants to own their own airplane, much less fly it.

Then there’s the paperwork and other responsibilities that come along for the ride. It starts with making sure the FAA has correct documentation of the craft’s ownership, that all the required documents are both in order and aboard the airplane, and making sure that other various requirements…