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What you should know about Faa
- Duplicate form preparation required.
- No fee for issuing a certificate of aircraft registration to a governmental unit.
- Additional fee required for conditional sales contract submission.
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How to prepare Faa
About Aircraft Bill Of Sale
Aircraft Bill of Sale is a legal document that serves as proof of the transfer of ownership of an aircraft from one party to another. It is a written agreement between the buyer and the seller that outlines the terms and conditions of the sale, including the sale price, the date of transfer, and any warranties or guarantees. The document also includes details about the aircraft, such as its make, model, registration number, and any liens or outstanding debts. Aircraft owners and buyers need an Aircraft Bill of Sale to protect their rights and interests in the sale of an aircraft. Sellers need it to show proof of the sale and release themselves from any liability associated with the aircraft. Buyers need it to prove their ownership of the aircraft, register it with the appropriate authorities, and protect themselves from any undisclosed debts or liens. Additionally, a Bill of Sale may be required by law or regulatory agencies to transfer ownership of an aircraft.
How to complete a Faa
- Fill in all necessary information, ensuring that all data is either typewritten or printed
- Signatures must be done in ink
- The name of the purchaser must match the name on the Aircraft Registration Application AC Form 80501
- If a trade name is used, the individual owner's name must also be provided
- There is a fee of $00 for recording a lien and an additional $00 for recording a conveyance
- Ensure that the form is completed accurately before mailing it to the FAA Aircraft Registration Branch at the address provided in Washington DC
- Review the form for accuracy and completeness before submission