In the absence of controlling legislation at the local, state, or federal level, contracts relating to aviation are governed by the rules and requirements pertinent to such agreements generally. However, the Federal Aviation Act of 1958 provides in detail for the regulation and control of aviation in the United States
Florida Contract for the Sale and Purchase of an Aircraft with a Bill of Sale Attached as an Exhibit
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A conditional sales contract is an agreement that stipulates ownership of property, like an aircraft, transfers only when certain conditions are satisfied. It often includes payment terms and can protect the seller's interests until full payment is received. In the context of Florida, including a bill of sale as an exhibit can enhance the clarity of such a contract.
Your sale and purchase agreement should include the following:Your name(s) and the names of the seller(s).The address of the property.The type of title (for example, freehold or leasehold).The price.Any deposit you must pay.Any chattels being sold with the property (for example, whiteware or curtains).More items...
Forms for Buying and Selling AircraftAircraft Registration (AC Form 8050-1)Aircraft Bill of Sale (AC Form 8050-2)8050-3- Current registration in aircraft, back filled out, signed and sent into FAA.Information if registering aircraft in an LLC.Sample Aircraft Purchase/Sales Agreement.More items...
Step 2. Filling Out the Bill of SaleSale date.Buyer's name and postal address.Seller's name and postal address.Essential aircraft information such as its make, model, registration number, and serial number.Purchase price.Agreed delivery date.Deposit amount.
If you intend to fly the aircraft at, or above 29,000 feet, the aircraft must be RVSM certified and a manual must be filed and approved by your local FAA Flight Standards District Office. Your pilots, legal counsel or management company can handle most of these issues.
Also known as Form AC 8050-2, an aircraft bill of sale is required by the Federal Aviation Administration (FAA) when buying and/or selling an aircraft. This form includes important information about the buyer, seller, and transaction details.
Evidence of ownership can either be an Aircraft Bill of Sale ( AC Form 8050-2) or a conditional sales contract. After completing the registration application, mail the white and green copies to the FAA, and keep the pink copy as evidence of your application.
The FAA requires pilots to report drug- and/or alcohol-related motor vehicle actions ( MVA ) to the agency's Security and Hazardous Materials Safety Office, Regulatory Investigations Division. Refer to the requirement in Federal Register Volume 55, 31300 (dated Aug.
To register an aircraft send the following to the Aircraft Registration Branch:an Aircraft Registration Application, AC Form 8050-1.evidence of ownership (such as one or more bills of sale)the $5.00 registration fee made payable to the Federal Aviation Administration.
