Topics
Buyer 's Checklist
Closing Documentation:
The level of documentation will depend on the complexity of the sale.
Bill Of Sale:
Most sales will require a Bill of Sale provided by the Seller to the Buyer. The FAA Bill of Sale is the most common form used. You can download a Bill of Sale from the FAA website at http://forms.faa.gov/forms/ac8050-2.pdf
Registration Certificate Application:
The Buyer must complete an application to register the aircraft in his or her name if the aircraft will remain under US Registry. An FAA three-part form is used for this purpose. The "pink copy" of this form serves as the temporary registration and must be kept in the aircraft. (Note: This FAA Form 8050-1 cannot be downloaded from the FAA website. Only original forms can be used.)
Letter of De-Registration:
If the aircraft will be exported to another country for registration, a letter requesting de-registration must be sent to the FAA from the last US owner of the aircraft. An ABAi Certified Aircraft Broker can help you with the de-registration process.
Release of Lien:
If there is a lien against the aircraft on behalf of the Seller, a release of lien must be filed with the FAA.
State Registration:
Some states have a requirement that aircraft be registered with the state annually or at some other interval.. Be sure to check with your state Aeronautics Division concerning these requirements.
Other Documents:
Some specific sales may require other documentation or processes. A Certified Aircraft Broker can often assist in these circumstances.
