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
Maryland Contract for the Sale and Purchase of an Aircraft with a Bill of Sale Attached as an Exhibit
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How to fill out Contract For The Sale And Purchase Of An Aircraft With A Bill Of Sale Attached As An Exhibit?
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A bill of sale for an airplane serves as a legal document that transfers ownership from the seller to the buyer. It outlines key details such as the aircraft's make, model, and serial number, along with any associated sale conditions. This document is crucial because it acts as proof of ownership and is often required when filing with the FAA.
Every aircraft must carry four essential documents. These include the aircraft registration certificate, the Airworthiness Certificate, the Pilot Operating Handbook, and the current Weight and Balance Report. Ensuring these documents are onboard not only meets legal requirements but also enhances safety and operational efficiency.
How Do I File an Airplane Bill of Sale?Step 1: Negotiate a Price for the Purchase. First, you'll want to set a price with the seller for the plane.Step 2: Fill Out the Bill of Sale.Step 3: Conduct a Pre-Sale Inspection of the Plane.Step 4: Finalize Sale of Aircraft.Step 5: Register the Plane with the FAA.
The Federal Aviation Administration accepts documents containing digital signatures by email. The documents may be submitted electronically as an attachment to an email at 9-avs-ar-electronic-submittals@faa.gov. Documents signed in ink must be submitted by U.S. Post Office or commercial delivery services.
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.
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...
Bill of Sale. The seller completes the "Bill of Sale," which is FAA Form 8050-2, available for download on FAA's web site, or from AOPA (800/872-2672), most FAA FSDO offices, or a dealer at your nearest airport). The Bill of Sale must be filled out in duplicate (two originals).
How to Write a Business Purchase Agreement?Step 1 Parties and Business Information. A business purchase agreement should detail the names of the buyer and seller at the start of the agreement.Step 2 Business Assets.Step 3 Business Liabilities.Step 4 Purchase Price.Step 6 Signatures.
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...
Aircraft TransferComplete the sale information on the back of the aircraft registration and mail it to the FAA registry for your protection. Call the FAA registry to validate address information at 1-866-762-9434.Provide all logs and records of the aircraft as agreed. Make sure to keep copies and records for yourself.