Santa Clara California Aircraft Lease Agreement with Option to Purchase

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State:
Multi-State
County:
Santa Clara
Control #:
US-02501BG
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Description

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.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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How to fill out Santa Clara California Aircraft Lease Agreement With Option To Purchase?

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FAQ

A written lease agreement must contain: The names and addresses of both parties; The description of the property; The rental amount and reasonable escalation; The frequency of rental payments, i.e. monthly; The amount of the deposit; The lease period; The notice period for termination of contract;

Lessors RankOperating LessorFleet1AerCap1,1532GECAS9313Air Lease Corporation2714SMBC Aviation Capital (ex RBS)44516 more rows

An aircraft lease agreement is a contract between the aircraft owner and the lessee. The leasing company, typically airlines, provides payments for the use of airplanes.

In general terms, a lease is a transfer of an aircraft without transfer of title. The owner of the aircraft, or lessor, retains legal title to the aircraft, but transfers possession of the aircraft to the lessee.

Prior lease approval is still required, but such approval may fall under the CAA's General Approval of Leasing Agreements (in the CAA's Official Record Series 4), provided it fits within the set criteria of the General Approval.

There are four main benefits to leasing aircraft instead of buying. They are financial liquidity, capacity flexibility, rapid expansion, fleet consistency and reduced maintenance costs. Financial liquidity has been critical for low cost carriers, but this benefit can accrue to any firm in the industry.

The loan is structured as a lease and the lender is designated as the lessor, but the lessee is treated as the owner for some purposes. The lease usually has a fixed buyout at the end of the lease, usually at a value that is less than the true residual value of the aircraft. The buyout is optional for the lessee.

Leasing transfers possession of the aircraft without transferring the title. A dry lease furnishes an aircraft, but the lessor provides no crew. (A lease that includes crew is called a wet lease, and requires an FAA commercial certifb01cate unless specifb01cally authorized under FAR 91.501 or FAR 91.321.)

In layman's terms, leasing simply means transferring an aircraft without transferring its title. The owner (aka the lessor) keeps the legal title but possession transfers to the lessee.

With a dry lease, an aircraft owner/lessor leases an aircraft to a lessee/operator without a crew. Neither the lessor nor the lessee is required to hold a charter certificate. In a dry lease situation, the lessee provides its own crew and exercises operational control of its flights.

More info

155 pagesMissing: Santa ‎Clara AIRLINEAIRPORT LEASE AND OPERATING AGREEMENT. FOR.IST)For all non-investor queries, please check out our Business Contacts. ELLENBURG — Northern Adirondack came out to a strong start, retiring the first two Lake Placid batters, but then a few errors threw the Bobcats . Tax ID: Ship To:5 Country Manor 900 W 46th St Davenport IA 52806 USA Contract Service Type Customer PO Terms Quantity KCM0000019 Rental ….

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Santa Clara California Aircraft Lease Agreement with Option to Purchase