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.
The New Mexico Aircraft Lease Agreement allows for the leasing of an aircraft in exchange for flight hours, with the lessee also responsible for supplying a new engine. Additionally, the lessor has the right to take a security interest in the engine, ensuring protection in case of default or non-payment. This comprehensive agreement ensures both parties are protected and outlines the terms and conditions of the lease. Keywords: New Mexico, Aircraft Lease Agreement, lessee, supply new engine, flight hours, security interest, terms and conditions. There are different types of New Mexico Aircraft Lease Agreements that include the lessee's responsibility to supply a new engine in exchange for flight hours and taking a security interest in the engine. Below are a few examples: 1. Fixed-Term Lease Agreement: This type of agreement specifies a predetermined period during which the lessee will operate and maintain the aircraft, supply a new engine, and fulfill the required flight hours. The lessor takes a security interest in the engine to protect their investment. 2. Open-Ended Lease Agreement: This agreement does not have a specific termination date and continues until either party decides to end the lease. The lessee is responsible for the aircraft's maintenance, supplying a new engine, and meeting the flight hour requirements. The lessor holds a security interest in the engine to secure their rights. 3. Dry Lease Agreement: In this type of lease, the lessee acquires the aircraft without crew, fuel, or other maintenance services. The lessee must provide a new engine and fulfill the agreed-upon flight hours. As part of the agreement, the lessor retains a security interest in the engine to protect their interests. These different variations of the New Mexico Aircraft Lease Agreement with specific provisions regarding engine supply, flight hours, and security interest ensure the leasing process is tailored to the needs and preferences of both parties involved.The New Mexico Aircraft Lease Agreement allows for the leasing of an aircraft in exchange for flight hours, with the lessee also responsible for supplying a new engine. Additionally, the lessor has the right to take a security interest in the engine, ensuring protection in case of default or non-payment. This comprehensive agreement ensures both parties are protected and outlines the terms and conditions of the lease. Keywords: New Mexico, Aircraft Lease Agreement, lessee, supply new engine, flight hours, security interest, terms and conditions. There are different types of New Mexico Aircraft Lease Agreements that include the lessee's responsibility to supply a new engine in exchange for flight hours and taking a security interest in the engine. Below are a few examples: 1. Fixed-Term Lease Agreement: This type of agreement specifies a predetermined period during which the lessee will operate and maintain the aircraft, supply a new engine, and fulfill the required flight hours. The lessor takes a security interest in the engine to protect their investment. 2. Open-Ended Lease Agreement: This agreement does not have a specific termination date and continues until either party decides to end the lease. The lessee is responsible for the aircraft's maintenance, supplying a new engine, and meeting the flight hour requirements. The lessor holds a security interest in the engine to secure their rights. 3. Dry Lease Agreement: In this type of lease, the lessee acquires the aircraft without crew, fuel, or other maintenance services. The lessee must provide a new engine and fulfill the agreed-upon flight hours. As part of the agreement, the lessor retains a security interest in the engine to protect their interests. These different variations of the New Mexico Aircraft Lease Agreement with specific provisions regarding engine supply, flight hours, and security interest ensure the leasing process is tailored to the needs and preferences of both parties involved.
