As a pilot planning to buy or sell an aircraft, you must ensure that you comply with all the legal procedures involved. One such procedure is to fill the aircraft bill of sale form. This document is necessary for the transfer of ownership and proves that the aircraft is legally and rightfully yours. To ensure that the process goes smoothly, it’s essential that you fully grasp how to fill out an aircraft bill of sale form. In this guide, we’ll take you through the process step-by-step.
Step 1
Obtain the Aircraft Bill of Sale Form – To obtain the aircraft bill of sale form, you can visit the National Aviation Center website and download the form. Ensure that you choose the correct form and fill out all the required details. You could also order a physical copy of this form from the FAA.
Step 2
Basic Information – Once you have the form in hand, the first step is to fill out the basic information of the seller and buyer. This information includes names, addresses, and other identifying information.
Step 3
Purchase Price and Payment – The next section is for the purchase price and payment history of the aircraft. It’s critical to ensure that you indicate the total cost of the aircraft and include all the payment details, including the date and mode of payment.
Step 4
Aircraft and Engine Information – Here, you need to fill out all the relevant details about the aircraft and engine. It includes the make and model, the aircraft registration number, the year of manufacture, and other important data. Be sure to verify the aircraft’s condition and history as well.
Step 5
Execution of Form – Ensure that both the buyer and seller have executed the form before it’s submitted. The signatures on the form need to be notarized.
In conclusion, filling out an aircraft bill of sale form is not complicated when you have the right information at hand. Ensure that you follow all the guidelines provided and fill out all required information accurately. The FAA takes this process very seriously, and any missing or incorrect information could lead to a delay or rejection of the document. In case you need help or clarification, do not hesitate to contact the FAA or a professional in the aviation industry. Best of luck with your aircraft transaction!