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 Wisconsin Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legally binding contract between an aircraft lessor and lessee in the state of Wisconsin. This agreement outlines the terms and conditions under which the lessee is provided with a new engine for their leased aircraft in exchange for a specified number of flight hours. Additionally, the lessor obtains a security interest in the engine to ensure compliance with the agreement. Keywords: — Wisconsin Aircraft Lease Agreement: This term refers to a legal contract specific to the state of Wisconsin that governs the leasing of aircraft. It implies that the agreement follows the laws and regulations of Wisconsin in matters related to aircraft lease agreements. — Lessee: The lessee is the party who obtains the rights to use the aircraft under the terms of the lease agreement. In this case, the lessee receives a new engine in exchange for flight hours. — Supply New Engine: This highlights that under this agreement, the lessor is responsible for providing a new engine to the lessee. It implies that the engine will be in good working condition and suitable for use in the aircraft being leased. — Exchange for Flight Hours: This clause specifies that the lessee's obligation to use the aircraft is primarily fulfilled by providing a predetermined number of flight hours. This suggests that the lessee is expected to utilize the aircraft for a specified duration to compensate for the new engine. — Security Interest: In this agreement, the lessor obtains a security interest in the engine. This means that the engine serves as collateral for the lessee's compliance with the agreement's terms and conditions, providing the lessor with a level of assurance. Different types of Wisconsin Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in the Engine would typically be differentiated based on variations in the specific terms and conditions established by the parties involved. Examples of potential variations could include the duration of the lease, the exact number of flight hours required, maintenance and insurance responsibilities, terms for default and termination, and any additional provisions addressing unique circumstances or considerations relevant to the specific agreement.A Wisconsin Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legally binding contract between an aircraft lessor and lessee in the state of Wisconsin. This agreement outlines the terms and conditions under which the lessee is provided with a new engine for their leased aircraft in exchange for a specified number of flight hours. Additionally, the lessor obtains a security interest in the engine to ensure compliance with the agreement. Keywords: — Wisconsin Aircraft Lease Agreement: This term refers to a legal contract specific to the state of Wisconsin that governs the leasing of aircraft. It implies that the agreement follows the laws and regulations of Wisconsin in matters related to aircraft lease agreements. — Lessee: The lessee is the party who obtains the rights to use the aircraft under the terms of the lease agreement. In this case, the lessee receives a new engine in exchange for flight hours. — Supply New Engine: This highlights that under this agreement, the lessor is responsible for providing a new engine to the lessee. It implies that the engine will be in good working condition and suitable for use in the aircraft being leased. — Exchange for Flight Hours: This clause specifies that the lessee's obligation to use the aircraft is primarily fulfilled by providing a predetermined number of flight hours. This suggests that the lessee is expected to utilize the aircraft for a specified duration to compensate for the new engine. — Security Interest: In this agreement, the lessor obtains a security interest in the engine. This means that the engine serves as collateral for the lessee's compliance with the agreement's terms and conditions, providing the lessor with a level of assurance. Different types of Wisconsin Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in the Engine would typically be differentiated based on variations in the specific terms and conditions established by the parties involved. Examples of potential variations could include the duration of the lease, the exact number of flight hours required, maintenance and insurance responsibilities, terms for default and termination, and any additional provisions addressing unique circumstances or considerations relevant to the specific agreement.
