In the absence of controlling legislation at the local, state, or federal level, the law of aviation is no more than a localized application of general common-law principles. Accordingly, various contracts relating to aviation are governed by the rules and requirements pertinent to such agreements generally.
However, the federal government plays an important role in many aspects of the aviation industry. The Federal Aviation Act of 1958 provides in detail for the regulation and control of aviation in the United States. Under this Act, any conveyance that affects the title to, or any interest in, any civil aircraft of the United States must be acknowledged and recorded with the Administrator of the Federal Aviation Administration in the manner prescribed by statute. After such an instrument is recorded, it is valid as to all persons without recording and regardless of notice.
As with any lease of personal property, an agreement to lease an aircraft must comply with all of the requisites, duties, liabilities, and obligations of the respective parties.Of particular importance in an aircraft lease are provisions concerning any limitations on the use of the aircraft and liability for loss and damage to or caused by the aircraft.
Florida Aircraft Lease for Successive Terms refers to an agreement between a lessor and a lessee for the lease of an aircraft in the state of Florida for multiple consecutive periods. This type of lease provides the lessee with the opportunity to have uninterrupted access to an aircraft for an extended duration. The Florida Aircraft Lease for Successive Terms is typically structured as a long-term lease arrangement, allowing the lessee to use the aircraft for a specified period, which can range from a few months to several years. The lease terms are agreed upon by both parties and outlined in a comprehensive contract. There are several types of Florida Aircraft Lease for Successive Terms, including: 1. Fixed-Term Lease: This lease agreement defines a specific period during which the lessee has the right to use the aircraft. The duration of the lease is predetermined and cannot be altered unless agreed upon by both parties. 2. Renewal Lease: This type of lease allows the lessee to extend the lease agreement for an additional period after the initial lease term expires. The renewal terms, including the duration and cost, are typically outlined in the original lease contract. 3. Evergreen Lease: An evergreen lease is a rolling lease agreement that automatically renews for successive terms until either party provides notice to terminate the lease. This type of lease offers flexibility and convenience to the lessee, as it eliminates the need for constant renegotiation. 4. Step-Up Lease: In a step-up lease, the lease payments increase in predetermined increments over the successive terms. This type of lease enables lessees to initially pay lower lease rates, gradually escalating to higher rates, which can be beneficial for businesses with cash flow constraints in the early stages. The Florida Aircraft Lease for Successive Terms serves as an advantageous option for businesses or individuals who require a consistent and reliable aircraft for an extended period. It offers convenience, financial flexibility, and the assurance of uninterrupted access to an aircraft in the vibrant state of Florida.
