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.
To be eligible for recording, an instrument granting a security interest in an aircraft must be signed in ink and describe the aircraft by manufacturer, model, serial number, and registration number. The debtor must be the registered owner of the aircraft; be the owner of record on the date the instrument is executed, as evidenced by documents on file with the FAA Aircraft Registry; or the lien document be accompanied by the debtors evidence of ownership/, application.
A Wyoming Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legal contract between a lessor (owner of an aircraft) and a lessee (individual or entity that rents the aircraft) in the state of Wyoming, United States. This type of agreement specifically outlines the terms and conditions regarding the temporary lease of an aircraft, the lessee's responsibility to provide a new engine, and the lessor's right to secure an interest in the engine. The agreement typically includes the following key elements: 1. Parties Involved: The agreement identifies both the lessor and the lessee, including their legal names and addresses. 2. Aircraft Details: It provides a detailed description of the aircraft, including its make, model, registration number, and any unique identifying features. 3. Lease Term and Flight Hour Agreement: The lease agreement specifies the duration for which the lessee will have possession and use of the aircraft. It further outlines the conditions under which the lessee must supply a new engine in exchange for flight hours. 4. Engine Replacement Conditions: The agreement describes the lessee's obligation to provide a new engine, including the specifications and required quality standards. It may include provisions for the lessor's inspection and approval of the engine before installation. 5. Flight Hour Requirements: The agreement defines the number of flight hours the lessee must provide in exchange for the new engine. It may specify limitations on type of flights, destinations, or any other agreed-upon restrictions. 6. Security Interest in Engine: To secure the lessor's interest in the engine, the agreement may grant the lessor a security interest in the engine to protect their investment. This ensures that the lessor has recourse in case of default or damage caused by the lessee. 7. Maintenance and Insurance: The agreement outlines the lessee's responsibilities regarding regular maintenance, repairs, and insurance coverage for the aircraft and engine during the lease term. 8. Indemnification and Liability: This section clarifies the liability of both parties for any damage or loss incurred during the lease term, highlighting the indemnification rights and obligations. 9. Termination and Default: The agreement establishes the circumstances under which either party may terminate the lease, such as breach of contract, non-payment, or violation of terms. It further outlines the consequences of termination and the procedures for returning the aircraft to the lessor. 10. Governing Law and Jurisdictions: The agreement stipulates that it is governed by the laws of the state of Wyoming and identifies the jurisdiction where any disputes arising from the agreement would be settled. It's important to note that there may be various types of Wyoming Aircraft Lease Agreements with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest. These agreements could vary based on specific terms, the type of aircraft involved (e.g., commercial jet, private plane, helicopter), and the duration of the lease. Additionally, the agreements may differ depending on the entities involved, such as individual lessees, companies, or institutions.A Wyoming Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legal contract between a lessor (owner of an aircraft) and a lessee (individual or entity that rents the aircraft) in the state of Wyoming, United States. This type of agreement specifically outlines the terms and conditions regarding the temporary lease of an aircraft, the lessee's responsibility to provide a new engine, and the lessor's right to secure an interest in the engine. The agreement typically includes the following key elements: 1. Parties Involved: The agreement identifies both the lessor and the lessee, including their legal names and addresses. 2. Aircraft Details: It provides a detailed description of the aircraft, including its make, model, registration number, and any unique identifying features. 3. Lease Term and Flight Hour Agreement: The lease agreement specifies the duration for which the lessee will have possession and use of the aircraft. It further outlines the conditions under which the lessee must supply a new engine in exchange for flight hours. 4. Engine Replacement Conditions: The agreement describes the lessee's obligation to provide a new engine, including the specifications and required quality standards. It may include provisions for the lessor's inspection and approval of the engine before installation. 5. Flight Hour Requirements: The agreement defines the number of flight hours the lessee must provide in exchange for the new engine. It may specify limitations on type of flights, destinations, or any other agreed-upon restrictions. 6. Security Interest in Engine: To secure the lessor's interest in the engine, the agreement may grant the lessor a security interest in the engine to protect their investment. This ensures that the lessor has recourse in case of default or damage caused by the lessee. 7. Maintenance and Insurance: The agreement outlines the lessee's responsibilities regarding regular maintenance, repairs, and insurance coverage for the aircraft and engine during the lease term. 8. Indemnification and Liability: This section clarifies the liability of both parties for any damage or loss incurred during the lease term, highlighting the indemnification rights and obligations. 9. Termination and Default: The agreement establishes the circumstances under which either party may terminate the lease, such as breach of contract, non-payment, or violation of terms. It further outlines the consequences of termination and the procedures for returning the aircraft to the lessor. 10. Governing Law and Jurisdictions: The agreement stipulates that it is governed by the laws of the state of Wyoming and identifies the jurisdiction where any disputes arising from the agreement would be settled. It's important to note that there may be various types of Wyoming Aircraft Lease Agreements with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest. These agreements could vary based on specific terms, the type of aircraft involved (e.g., commercial jet, private plane, helicopter), and the duration of the lease. Additionally, the agreements may differ depending on the entities involved, such as individual lessees, companies, or institutions.
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.
