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 District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legal document that outlines the conditions and terms between the lessor (owner of the aircraft) and the lessee (individual or entity leasing the aircraft) in the District of Columbia. This agreement involves a unique arrangement wherein the lessee agrees to provide a new engine for the aircraft in exchange for a certain number of flight hours, while the lessor maintains a security interest in the engine. Keywords: District of Columbia, Aircraft Lease Agreement, Lessee, Supply New Engine, Flight Hours, Security Interest Different Types of District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine: 1. Fixed-Term Lease Agreement: This type of agreement specifies a predetermined timeframe during which the lessee will provide the new engine and fulfill the agreed-upon flight hours. The lessor retains a security interest in the engine throughout the lease period. 2. Open-Ended Lease Agreement: Unlike the fixed-term lease agreement, this type of agreement does not have a specific duration. Instead, it may establish a minimum flight hour requirement that the lessee must fulfill to retain possession of the aircraft. The lessee will provide the new engine, and the lessor will maintain a security interest throughout the lease term. 3. Wet Lease Agreement: A wet lease agreement enables the lessee to lease an aircraft along with a crew, ensuring that the lessor provides not only the aircraft but also the necessary engine. The lessee fulfills the agreed flight hours while the lessor retains a security interest. 4. Dry Lease Agreement: In contrast to a wet lease agreement, a dry lease agreement only provides the aircraft, and the lessee is responsible for sourcing and providing the new engine. The lessee is required to compensate the lessor in the form of flight hours while the lessor retains a security interest in the engine. In summary, the District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a specialized agreement that governs the unique arrangement where the lessee provides a new engine in exchange for flight hours, while the lessor retains a security interest. The agreement can vary based on the duration of the lease, whether the engine is provided by the lessor or the lessee, and whether crew services are included.A District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legal document that outlines the conditions and terms between the lessor (owner of the aircraft) and the lessee (individual or entity leasing the aircraft) in the District of Columbia. This agreement involves a unique arrangement wherein the lessee agrees to provide a new engine for the aircraft in exchange for a certain number of flight hours, while the lessor maintains a security interest in the engine. Keywords: District of Columbia, Aircraft Lease Agreement, Lessee, Supply New Engine, Flight Hours, Security Interest Different Types of District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine: 1. Fixed-Term Lease Agreement: This type of agreement specifies a predetermined timeframe during which the lessee will provide the new engine and fulfill the agreed-upon flight hours. The lessor retains a security interest in the engine throughout the lease period. 2. Open-Ended Lease Agreement: Unlike the fixed-term lease agreement, this type of agreement does not have a specific duration. Instead, it may establish a minimum flight hour requirement that the lessee must fulfill to retain possession of the aircraft. The lessee will provide the new engine, and the lessor will maintain a security interest throughout the lease term. 3. Wet Lease Agreement: A wet lease agreement enables the lessee to lease an aircraft along with a crew, ensuring that the lessor provides not only the aircraft but also the necessary engine. The lessee fulfills the agreed flight hours while the lessor retains a security interest. 4. Dry Lease Agreement: In contrast to a wet lease agreement, a dry lease agreement only provides the aircraft, and the lessee is responsible for sourcing and providing the new engine. The lessee is required to compensate the lessor in the form of flight hours while the lessor retains a security interest in the engine. In summary, the District of Columbia Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a specialized agreement that governs the unique arrangement where the lessee provides a new engine in exchange for flight hours, while the lessor retains a security interest. The agreement can vary based on the duration of the lease, whether the engine is provided by the lessor or the lessee, and whether crew services are included.
