Making the decision to purchase your own airplane is undoubtedly a big step. Not only will the transaction be one of the most expensive you ever make, but you will have new, significant responsibilities once you own the airplane. Buying a plane new from the manufacturer can be costly, which is why many people look to the secondary market when they are buying their first plane. Usually, aircraft on this market is more affordable so that you can save some money and get your feet wet before you decide if you want to upgrade or move on to another plane. When you find yourself scouring the market for aircraft, if you see a few that you are interested in, you always want to make sure you do plenty of research regarding the planes in question. You may have heard about an aircraft abstract of title. Finding out what aircraft documentations you need and what they are can be vital to you.
Do You Need an Aircraft Abstract of Title?
The short answer to the question is no. The law does not require you to get an abstract before you make a purchase. However, opting not to get an abstract can be a big mistake on your part. An abstract provides you with something of an outline or summary of the records of the aircraft so you can familiarize yourself with some of the backgrounds. One thing you can learn is if there are any outstanding liens on the plane you need to know about. There may be mechanics or other vendors that have claims on the vessel because they are owed money, and you assuming ownership of the plane can pass these problems along to you as the new owner.
Getting an Abstract
An aircraft abstract of title can only be issued by the FAA. The FAA maintains the records of every aircraft registered in the United States, and these records contain details about the manufacturer, the plane itself, dates of registration, liens on the plane, and much more. Getting this information requires you to fill out an application for a request for an abstract of title and then file it with the FAA. The process may seem straightforward to you at first, but finding where and how to do this on the FAA website can take some doing on your part, and it can be frustrating as you try to piece everything together so you can mail the forms in.
An Easier Way to an Abstract
If you have an interest in a plane or several planes and you would like to get an aircraft abstract of title so you can gather more information, the easy way for you to do so is with our help at the National Aviation Center. We offer the application in electronic form on our site so you can fill out the form and send it to us in just minutes. Our experts check the form over to make sure there are no mistakes that could delay the process for you, and we then pass it along to the FAA on your behalf. In no time, you can get the information you need to see which plane best suits your needs.