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 Maricopa Arizona 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 owner (lessor) and a lessee, outlining the terms and conditions of the lease arrangement. This agreement typically involves the lessee providing a new engine for the aircraft in exchange for a predetermined number of flight hours and granting the lessor a security interest in the engine. The purpose of this agreement is to ensure the lessee's compliance with the lease terms, guarantee the lessor's security interest in the engine, and establish the obligations and responsibilities of both parties. By specifying the location as Maricopa, Arizona, it denotes the jurisdiction within which the agreement is governed. This lease agreement may vary depending on the specific details and arrangements made between the lessor and lessee. Different types of Maricopa Arizona Aircraft Lease Agreements include: 1. Full Engine Replacement Lease Agreement: This type of agreement involves the lessee supplying and installing a completely new engine in the aircraft, which may warrant a longer lease term and specific terms around engine maintenance and warranty. 2. Engine Upgrade Lease Agreement: In this case, the lessee may provide an upgraded or more powerful engine in exchange for flight hours. The agreement will outline the specifications of the new engine and any additional obligations for the lessee regarding maintenance and operational requirements. 3. Engine Overhaul Lease Agreement: This agreement involves the lessee providing an overhauled engine, which may involve refurbishment or replacement of specific components, ensuring optimal performance. The agreement will typically outline the condition and expected lifespan of the engine. 4. Engine Maintenance Lease Agreement: This agreement focuses primarily on the lessee's responsibility to maintain and service the engine during the lease term. The lessee may have to ensure regular inspections, oil changes, or minor repairs as necessary to keep the engine in good working condition. All variations of the Maricopa Arizona Aircraft Lease Agreement aim to establish clear terms for engine supply, flight hours, and protection of the lessor's security interest in the engine. It is vital for both parties to fully understand and agree upon the terms, ensuring a smooth and mutually beneficial leasing relationship.The Maricopa Arizona 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 owner (lessor) and a lessee, outlining the terms and conditions of the lease arrangement. This agreement typically involves the lessee providing a new engine for the aircraft in exchange for a predetermined number of flight hours and granting the lessor a security interest in the engine. The purpose of this agreement is to ensure the lessee's compliance with the lease terms, guarantee the lessor's security interest in the engine, and establish the obligations and responsibilities of both parties. By specifying the location as Maricopa, Arizona, it denotes the jurisdiction within which the agreement is governed. This lease agreement may vary depending on the specific details and arrangements made between the lessor and lessee. Different types of Maricopa Arizona Aircraft Lease Agreements include: 1. Full Engine Replacement Lease Agreement: This type of agreement involves the lessee supplying and installing a completely new engine in the aircraft, which may warrant a longer lease term and specific terms around engine maintenance and warranty. 2. Engine Upgrade Lease Agreement: In this case, the lessee may provide an upgraded or more powerful engine in exchange for flight hours. The agreement will outline the specifications of the new engine and any additional obligations for the lessee regarding maintenance and operational requirements. 3. Engine Overhaul Lease Agreement: This agreement involves the lessee providing an overhauled engine, which may involve refurbishment or replacement of specific components, ensuring optimal performance. The agreement will typically outline the condition and expected lifespan of the engine. 4. Engine Maintenance Lease Agreement: This agreement focuses primarily on the lessee's responsibility to maintain and service the engine during the lease term. The lessee may have to ensure regular inspections, oil changes, or minor repairs as necessary to keep the engine in good working condition. All variations of the Maricopa Arizona Aircraft Lease Agreement aim to establish clear terms for engine supply, flight hours, and protection of the lessor's security interest in the engine. It is vital for both parties to fully understand and agree upon the terms, ensuring a smooth and mutually beneficial leasing relationship.
