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Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine

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Multi-State
Control #:
US-02499BG
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Word; 
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Description Lessee All Hour

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.

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Lease Agreement Form Other Form Names

Lease Engine Form   Lease Agreement Lessee   Lease Agreement Security Template   Aircraft Lease Agreement   Who Is The Lessor In A Lease Agreement   Aircraft Wet Lease Agreement Sample   Dry Lease Meaning  

Business Aviation Lease Agreement Form FAQ

A simple (1 page) lease agreement is a legally binding form used for renting out residential real estate.Unlike a standard residential lease, the form contains the bare-minimum for being an effective lease, foregoing many of the clauses found in standard leases.

Name the parties. A simple rental agreement form needs to name the parties signing the lease and where they live. Describe the premises. Define the term of the lease. Set how much rent is owed. Assign a security deposit amount. Finalize the lease.

The Lease Must be in Writing It does not matter if the lease is handwritten or typed. If the lease is for more than one year, it must be in written form and contain the following terms.

Names of all tenants. Limits on occupancy. Term of the tenancy. Rent. Deposits and fees. Repairs and maintenance. Entry to rental property. Restrictions on tenant illegal activity.

A dry lease furnishes an aircraft, but the lessor provides no crew.With non-exclusive leases, the owner can furnish the aircraft to more than one lessee during the same lease term, with operational control switching between the lessor and each lessee on a flight-by-flight basis.

In a dry lease arrangement, the aircraft owner is providing the aircraft to the lessee without crew.In a wet lease situation, because the lessor is providing both aircraft and crew, the lessor maintains operational control of all flights.

Names of tenants. Include the first and last name of all tenants who will be residing in the premises. Lease Term. What is the length of time that the lease is valid? Payment of Rent. Deposits. Fees, Fines, Charges. Responsibilities. Access to Premises. Use.

A dry lease is a leasing arrangement whereby an aircraft financing entity (lessor), such as GECAS, AerCap, or Air Lease Corporation, provides an aircraft without crew, ground staff, etc.

As long as the contract spells out specific details and both parties have signed that they agree to the contract's terms, a handwritten contract is legally binding and enforceable in court.

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Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine