A security interest in an aircraft engine can be perfected only in the manner required by federal law. Federal law excludes by preemption the recording of title to or liens against aircraft, so that a transfer that is not recorded under the federal system is not effective. Security Interests in Engines less than 550 horsepower are not eligible for recording. A security interest in an aircraft is perfected by filing with the Aircraft Registration Branch of the Federal Aviation Administration.
District of Columbia Security Agreement Granting Security Interest in Aircraft Engine is a legally binding document that establishes a security interest in an aircraft engine located in the District of Columbia. This security agreement safeguards the rights of creditors and parties who provide loans or other forms of financial assistance related to aircraft engines in the District of Columbia. The purpose of the District of Columbia Security Agreement Granting Security Interest in Aircraft Engine is to ensure that the creditor has a legally recognized claim on the aircraft engine, should the debtor default on their obligations. This agreement allows the creditor to take possession of the aircraft engine and sell it in order to recover the outstanding amount. There can be various types of District of Columbia Security Agreement Granting Security Interest in Aircraft Engine, depending on the specific circumstances and parties involved. Some of these types may include: 1. Individual Debtor Agreement: This type of security agreement is entered into between an individual debtor (the party who owes the debt) and a creditor (the party providing the loan or financial assistance) for a specific aircraft engine located in the District of Columbia. 2. Corporate Debtor Agreement: This type of security agreement is similar to an individual debtor agreement, but it involves a corporation or a business entity as the debtor. The security interest is granted on behalf of the corporation for the aircraft engine located in the District of Columbia. 3. Aircraft Dealer Agreement: In cases where an aircraft dealer is involved, a security agreement may be established between the dealer and the creditor. This agreement grants the dealer a security interest in the aircraft engine, allowing them to take action in the event of default. 4. Borrower-Lender Agreement: This type of security agreement is specific to lending scenarios, where a borrower obtains financing from a lender for the purchase or maintenance of an aircraft engine. The borrower grants a security interest in the engine to the lender as collateral for the loan. Some relevant keywords for District of Columbia Security Agreement Granting Security Interest in Aircraft Engine may include: security agreement, security interest, aircraft engine, District of Columbia, debtor, creditor, loan, financial assistance, collateral, default, possession, sale, individual debtor, corporate debtor, aircraft dealer, borrowing, lending.
