The Aircraft Bill of Sale AC 8050-2 form is a legal document used to transfer ownership of an aircraft from one party to another. This form serves as proof of the sale and includes essential details about the aircraft and the parties involved. To ensure a smooth transaction, it is important to fill out the form accurately.
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The Aircraft Bill of Sale AC 8050-2 form serves as a crucial document in the process of buying or selling an aircraft in the United States. This form is not just a simple receipt; it provides essential information that establishes the transfer of ownership from the seller to the buyer. Key details included in the form encompass the names and addresses of both parties, a description of the aircraft, and the purchase price. Additionally, the form requires the seller's signature, affirming their authority to sell the aircraft and confirming that the information provided is accurate. Once completed, this document must be submitted to the Federal Aviation Administration (FAA) to officially record the change of ownership, which is vital for maintaining clear title and ensuring compliance with aviation regulations. Understanding the significance of the AC 8050-2 form can help both buyers and sellers navigate the complexities of aircraft transactions with greater confidence and clarity.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document for transferring ownership of an aircraft. However, several other forms and documents often accompany it to ensure a smooth and legally compliant transaction. Below are five important documents that you may encounter in the aircraft buying and selling process.
Understanding these documents is key to navigating the complexities of aircraft ownership transfer. Each one plays a significant role in ensuring that the transaction is transparent, legal, and beneficial for all parties involved. By being informed, buyers and sellers can approach the process with confidence and peace of mind.
OMB Control No. 2120-0042
Exp. 03/31/2024
PRA Public Burden Statement: A federal agency may not conduct or sponsor, and a person is not required to respond to, nor shall a person be subject to a penalty for failure to comply with a collection of information subject to the requirements of the Paperwork Reduction Act unless that collection of information displays a currently valid OMB Control Number. The OMB Control Number for this information collection is 2120-0042. Public reporting for this collection of information is estimated to be approximately 30 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, completing and reviewing the collection of information. All responses to this collection of information are required to show evidence of ownership to register an aircraft or hold an aircraft in trust in accordance with 14 CFR Part 47. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Information Collection Clearance Officer, Federal Aviation Administration, 10101 Hillwood Parkway, Fort Worth, TX 76177-1524.
AIRCRAFT BILL OF SALE INFORMATION
PREPARATION: Prepare this form in duplicate. Except for signatures, all data should be type-
written or printed. Signatures must be in ink. The name of the purchaser must be identical to the name of the applicant shown on the Aircraft Registration Application, AC Form 8050-1.
When a trade name is shown as the purchaser or seller, the name of the individual owner or co-owners must be shown along with the trade name.
If the aircraft was not purchased from the last registered owner, conveyances must be submitted completing the chain of ownership from the last registered owner, through all intervening owners, to the applicant.
REGISTRATION AND RECORDING FEES: The fee for issuing a certificate of aircraft registration is $5.00. An additional fee of $5.00 is required when a conditional sales contract is submitted in lieu of bill of sale as evidence of ownership along with the application for aircraft registration ($5.00 for the issuance of the certificate, and $5.00 for recording the lien evidenced by the contract). The fee for recording a conveyance is $5.00 for each eligible piece of collateral listed thereon. (There is no fee for issuing a certificate of aircraft registration to a governmental unit or for recording a bill of sale that accompanies an application for aircraft registration and the proper registration fee.)
MAILING INSTRUCTIONS:
If this form is used, please mail the original or copy which has been signed in ink to FAA Aircraft Registration Branch, P.O. Box 25504, Oklahoma City, OK 73125-0504.
AC Form 8050-2 (04/21)
UNITED STATES OF AMERICA
U.S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION
AIRCRAFT BILL OF SALE
FOR AND IN CONSIDERATION OF $
THE
UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND
BENEFICIAL TITLE OF THE AIRCRAFT DESCRIBED
AS FOLLOWS:
UNITED STATES
N
REGISTRATION NUMBER
AIRCRAFT MANUFACTURER & MODEL
AIRCRAFT SERIAL NO.
DOES THIS
DAY OF
,
HEREBY SELL, GRANT, TRANSFER AND
DELIVER ALL RIGHTS, TITLE, AND INTERESTS
IN AND TO SUCH AIRCRAFT UNTO:
Do Not Write In This Block
FOR FAA USE ONLY
NAME AND ADDRESS
(IF INDIVIDUAL(S), GIVE LAST NAME, FIRST NAME, AND MIDDLE INITIAL.)
DEALER CERTIFICATE NUMBER
AND TO
EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD
SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF:
IN TESTIMONY WHEREOF
HAVE SET
HAND AND SEAL THIS
NAME(S) OF SELLER
SIGNATURE(S)
TITLE
(TYPED OR PRINTED)
(IN INK) (IF EXECUTED FOR
CO-OWNERSHIP, ALL MUST SIGN.)
SELLER
ACKNOWLEDGMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.)
ORIGINAL: TO FAA:
PRIVACY ACT OF 1974 (PL 93-579) requires that users of this form be informed of the authority which allows the solicitation of the information and whether disclosure of such information is mandatory or voluntary; the principal purpose for which the information is intended to be used; the routine uses which may be made of the information gathered; and the effects, if any, of not providing all or any part of the requested information.
Title 49 U.S.C. 44101 requires the registration of each United State civil aircraft as a prerequisite to its operation. The applicant for registration must submit evidence of ownership that meets the requirements prescribed in Part 47 of the Federal Aviation Regulations.
This form identifies the aircraft being purchased, and provides space for purchaser and seller identification and signature. This is intended only to be a suggested bill of sale form which meets the recording requirements of the Federal Aviation Act, and the regulations issued thereunder. In addition to these requirements, the form of bill of sale should be drafted in accordance with the pertinent provisions of local statutes and other applicable federal statutes.
The following routine uses are made of the information gathered:
(1)To support investigative efforts of investigation and law enforcement agencies of Federal, state, and foreign governments.
(2)To serve as a repository of legal documents used by individuals and title search companies to determine the ownership of an aircraft for registration purposes.
(3)To provide aircraft owners and operators information about potential mechanical defects or unsafe conditions of their aircraft in the form of airworthiness directives.
(4)To provide supporting information in court cases.
(5)To serve as a data source for management information for production of summary descriptive statistics and analytical studies in support of agency functions for which the records are collected and maintained.
(6)To respond to general requests from the aviation community or the public for statistical information under the Freedom of Information Act or to locate specific individuals or specific aircraft for accident investigation, violation, or other safety related requirements.
(7)To provide data for the automated aircraft registration master file.
(8)To provide documents for development of the aircraft registration statistical system.
(9)To prepare an aircraft register in electronic media as required by ICAO agreement containing information on aircraft owners by name, address, N-Number, and type aircraft, used for internal FAA safety program purposes and also available to the public (individuals, aviation organizations, direct mail advertisers, state and local governments, etc.) upon payment of applicable user charges reimbursing the Federal Government for its costs.
(10)The aircraft records maintained by the FAA Aircraft Registry are public records and are open for inspection in room 122 of the Registry Building, Mike Monroney Aeronautical Center, 6425 S. Denning, Oklahoma City, Oklahoma 73169. Individuals interested in such information may make a personal search of the records or may avail themselves of the services of a company or an attorney.
Completing the Aircraft Bill of Sale AC 8050-2 form is an essential step in the process of transferring ownership of an aircraft. Once you have filled out the form correctly, you will need to submit it to the appropriate authorities to finalize the sale and ensure that the ownership transfer is officially recognized.
After filling out the form, you will need to submit it to the FAA for processing. Keep in mind that timely submission is important to avoid any potential issues with the ownership transfer.
The Aircraft Bill of Sale AC 8050-2 form serves as a critical document in the transfer of ownership for aircraft, but it shares similarities with several other important documents. One such document is the Vehicle Bill of Sale. Like the Aircraft Bill of Sale, the Vehicle Bill of Sale records the transfer of ownership from one party to another. Both documents include essential details such as the buyer and seller’s information, a description of the asset, and the purchase price, ensuring a clear and legal transfer of ownership.
Another document that resembles the Aircraft Bill of Sale is the Boat Bill of Sale. This form is used when ownership of a boat is transferred. Similar to the Aircraft Bill of Sale, it requires identification of the parties involved and details about the boat, including its hull identification number. Both forms serve to protect the interests of both buyers and sellers by providing a written record of the transaction.
The Real Estate Purchase Agreement is another document that shares similarities with the Aircraft Bill of Sale. While it pertains to property rather than aircraft, both documents outline the terms of a sale, including the purchase price and the parties involved. Each document serves as a binding agreement that can be referenced in case of disputes, ensuring that all parties are clear about their rights and responsibilities.
The Equipment Bill of Sale is also akin to the Aircraft Bill of Sale. This form is used for the sale of heavy machinery and equipment, documenting the transfer of ownership. Both documents include necessary details like the description of the item being sold and the sale price, providing a legal framework for the transaction that protects both the buyer and the seller.
In the realm of personal property, the Personal Property Bill of Sale is another document that mirrors the Aircraft Bill of Sale. This form is used for the sale of various personal items, such as furniture or electronics. Both documents require the seller to affirm their ownership and the buyer to acknowledge the purchase, creating a clear record of the transaction for both parties.
The Business Asset Bill of Sale is another similar document, used when a business is sold or its assets are transferred. This document outlines the specifics of the assets being sold, similar to how the Aircraft Bill of Sale details the aircraft being transferred. Both forms are essential for establishing ownership and ensuring that all parties are aware of what is being sold.
For those involved in transactions concerning motor vehicles, it's important to be aware of the relevant documentation that facilitates ownership transfer. One such document is the Illinois Motor Vehicle Bill of Sale form, which serves as a vital record that captures the details of the sale. This form not only provides proof of the transaction but also aids in the vehicle's registration process. To ensure everything is in order when buying or selling a vehicle in Illinois, it is necessary to complete this document, and you can access the document here.
The Franchise Disclosure Document (FDD) can also be likened to the Aircraft Bill of Sale in terms of its importance in business transactions. While the FDD provides comprehensive information about a franchise opportunity, it includes details about the parties involved and the terms of the agreement. Both documents aim to protect the interests of the parties by ensuring transparency and clarity in the transaction.
Lastly, the Lease Agreement shares some similarities with the Aircraft Bill of Sale. While a lease does not transfer ownership, it establishes the terms under which one party can use another's property. Both documents require clear identification of the parties involved and the terms of the agreement, ensuring that all parties understand their rights and obligations. In this way, both documents serve to formalize an important transaction, whether it be a sale or a lease.
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When dealing with vehicle transactions, having the right paperwork is crucial. The essential guide to a Motor Vehicle Bill of Sale can streamline the buying or selling process, ensuring that all necessary details are recorded accurately. For more information, refer to this thorough resource on filling out a Motor Vehicle Bill of Sale.
Yellow Immunization Card California - It serves as an essential resource for parents to understand their child’s vaccination history and needs.
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When dealing with the Aircraft Bill of Sale AC 8050-2 form, several misconceptions can arise. Understanding these can help ensure a smoother transaction process when buying or selling an aircraft.
This is not true. The Aircraft Bill of Sale AC 8050-2 is required for both new and used aircraft transactions. It serves as proof of ownership transfer, regardless of the aircraft's age.
While it may seem daunting at first, the form is relatively straightforward. It requires basic information about the buyer, seller, and the aircraft itself. Most people can complete it in a short amount of time.
This misconception is false. Anyone involved in the sale or purchase of the aircraft can fill out the form. It does not require any specific licensing or certification.
Notarization is not a requirement for the Aircraft Bill of Sale AC 8050-2. While some parties may choose to have it notarized for additional verification, it is not mandated by the FAA.
This is incorrect. If there are errors or changes needed after submission, the form can be amended. It is important to ensure all information is accurate before finalizing the transaction.