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.
The Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties is a legally binding document used in the state of Iowa to transfer ownership of an aircraft engine from one party to another. This bill of sale outlines the terms and conditions of the sale, as well as includes a disclaimer of warranties that releases the seller from any responsibility or liability regarding the engine. The Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties must contain specific keywords and information to be considered valid. It should include the full legal names and addresses of both the buyer and seller, along with the detailed description of the aircraft engine being sold. This description should include relevant specifications such as the engine make, model, serial number, and any other identifying information. In addition to the standard Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties, there may be variations of this document depending on the specific circumstances. Some of these variations include: 1. Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties — As-Is: This type of bill of sale further emphasizes that the engine is being sold in its current condition, without any warranties or guarantees from the seller. 2. Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties — With Inspection: In cases where the engine has undergone an inspection by a qualified professional, this variation states that the buyer has had the opportunity to review the inspection report and accepts the engine's condition based on that evaluation. 3. Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties — Purchase Agreement: This type of bill of sale includes additional terms and conditions agreed upon by the buyer and seller, such as payment terms, delivery obligations, and any other specific arrangements made between the parties. It is crucial for both the buyer and seller to carefully read and understand the contents of the Iowa Bill of Sale for Aircraft Engine and Disclaimer of Warranties before signing it. It is also advisable to seek legal counsel to ensure all necessary elements are included and to protect both parties' interests.
