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.
A bill of sale aircraft form with decimals is a legal document used for the transfer of ownership of an aircraft. It contains detailed information about the buyer, the seller, and the aircraft being sold. This form is crucial for both parties as it establishes a clear record of the transaction and protects their respective interests. The bill of sale aircraft form with decimals typically consists of several sections that need to be filled out accurately. These sections include: 1. Aircraft Information: This section requires the aircraft details, such as the make, model, year, and serial number. It is essential to specify the aircraft's registration number to ensure proper identification. 2. Buyer and Seller Information: In this section, the buyer's and seller's contact details are provided, including full names, addresses, phone numbers, and email addresses. It is crucial to accurately list this information to avoid any potential complications later on. 3. Purchase Price: The purchase price section records the agreed-upon value for the aircraft. Decimals are used to represent precise amounts. It is recommended to include the currency in which the payment will be made to avoid any confusion. 4. Payment Terms: This section outlines the agreed-upon payment terms, whether it be a lump sum or installments. It is important to mention due dates and any penalties in case of late payment. 5. Condition of Aircraft: The bill of sale aircraft form may include a section to describe the current condition of the aircraft. This can be essential in case there are any disagreements or disputes after the sale. It is advisable to be as detailed as possible regarding the condition to avoid any future misunderstandings. Different types of bill of sale aircraft forms with decimals may include variations in layout or additional sections depending on the jurisdiction or specific requirements of the parties involved. Examples of these variations may include: 1. International Bill of Sale Aircraft Form: This form is designed for aircraft sales that involve parties from different countries. It may contain additional sections or disclosures related to international laws and regulations. 2. Used Aircraft Bill of Sale Form: This form is specifically tailored for the sale of pre-owned aircraft. It may include sections related to the aircraft's maintenance history, previous owners, and any liabilities or warranties associated with the aircraft's past. 3. Aircraft Purchase Agreement: While not technically a bill of sale, an aircraft purchase agreement is a comprehensive contract that covers all aspects of the sale, including the aircraft's condition, payment terms, and any warranties or guarantees. Decimals are typically used in this agreement to indicate the exact price. In conclusion, a bill of sale aircraft form with decimals is a vital legal document used to facilitate the transfer of ownership of an aircraft. It ensures that all parties involved are protected and maintain a clear record of the transaction. Different variations of this form may exist based on specific requirements or jurisdictions, such as international sales or the sale of used aircraft.
