Under the Federal Aviation Act of 1958, 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.
Documents relating to interests in aircraft are filed with the FAA Registry in Oklahoma City, Oklahoma. Documents must be signed in ink by the appropriate party (e.g. seller, grantor, lien claimant, etc.) or by someone on behalf of the appropriate party with a title acceptable to the FAA (President, Chief Manager etc.). The FAA Registry Examination Guidelines contain a list of titles that are acceptable to the FAA.
The Aircraft Bill of Sale document is a legal agreement that serves as proof of the transfer of ownership for an aircraft from one party to another. It is an essential document utilized in aircraft transactions, ensuring a smooth and lawful transfer of ownership. This document provides important details about the aircraft, the involved parties, and the terms and conditions of the sale. The aircraft bill of sale includes several key elements. Firstly, it includes the complete details of the buyer and the seller, such as their names, addresses, and contact information. This information establishes the identity of the parties involved in the transaction. Additionally, the document outlines the specific aircraft being sold, including its make, model, serial number, and registration number. This helps to identify the aircraft accurately and avoid any confusion or misunderstandings during the transfer process. Moreover, the bill of sale contains the purchase price agreed upon by the buyer and the seller. This amount is typically indicated in both numeric and written formats to avoid any misconceptions. Furthermore, the payment terms, such as the mode of payment and any applicable payment deadlines, are specified in this document, ensuring clarity regarding the financial aspects of the transaction. The bill of sale also includes any additional terms and conditions that the parties mutually agree upon. These may include provisions regarding the condition of the aircraft at the time of the sale, any warranties or guarantees provided by the seller, and any contingencies or conditions that must be met for the sale to be finalized. It is important to note that there are different types of aircraft bills of sale documents based on the specific circumstances of the transaction. Some common types include: 1. Absolute Bill of Sale: This type of bill of sale signifies an outright transfer of ownership from the seller to the buyer. It is the most common form of aircraft bill of sale and is used when there are no liens or encumbrances on the aircraft. 2. Conditional Bill of Sale: This type of bill of sale requires the fulfillment of certain conditions before the transfer of ownership is completed. These conditions can be related to inspections, repairs, or other agreed-upon criteria. 3. Bill of Sale for Fractional Ownership: In cases where an aircraft is owned by multiple parties, a fractional ownership bill of sale documents the transfer of a partial interest or share in the aircraft. 4. Bill of Sale for Salvage Aircraft Parts: This type of bill of sale pertains to the sale of salvaged aircraft parts and components, rather than the entire aircraft. In conclusion, the Aircraft Bill of Sale is a critical legal document that facilitates the transfer of ownership from a seller to a buyer. It includes comprehensive details about the aircraft, terms of the sale, and the parties involved. Understanding the different types of aircraft bills of sale allows for versatility and specificity in documenting various types of aircraft transactions.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
