Purchasing your own aircraft may end up being one of the largest purchases that you make in your lifetime. As it is likely the culmination of a lifelong dream and ambition you have held since you were a child, it stands to reason that it is a transaction you will approach with care and much due diligence. Since aviation can be a life-spanning hobby, it is also not outside the realm of possibility that you will own more than one airplane. If you are selling your current plane while shopping for a new one, you will need to complete an Aircraft Bill of Sale Form with the Federal Aviation Administration (FAA).
Officially referred to as a Form AC 8050-2, this document will notify the FAA that ownership of an aircraft has changed hands. It is mandatory that this document is completed when a transaction involving an airplane takes place. At the National Aviation Center, we offer an easy-to-fill, streamlined form to complete this process.
What is an Aircraft Bill of Sale Form?
Think about transactions that you make in your daily life. Whether it is going to the grocery store, or picking up clothing from the dry cleaners, when you make a transaction, you are given a receipt. Understandably, this practice also occurs when an airplane is bought and sold.
Because aviation is a tightly-regulated industry and an aircraft transaction can involve a significant amount of money, the receipt involved will call for a fair amount of detail. If you are selling your plane, your Aircraft Bill of Sale should include the following information:
- The price of the aircraft
- The plane’s N-number
- The aircraft’s manufacturer and model
- The serial number of the airplane
- The name and address of the purchaser
- The name, address, title, and signature of the seller
This level of detail allows the FAA to maintain an accurate record of an aircraft’s ownership history. This is also of benefit to the plane’s buyer, as it allows them to know who previously owned the plane and allows them to get in contact with that individual if they need to do so.
How Can You Complete Your Bill of Sale?
There are multiple avenues for completing an Aircraft Bill of Sale, and the route that you select will largely depend on how much time and energy you have to spare. You can visit the FAA’s website to locate an AC Form 8050-2. For their part, they will allow you to download a PDF copy of this document, which you can then print and fill out by hand. From there, you can package and mail this document to the FAA’s office in Oklahoma City, Oklahoma.
Of course, there is also a much easier way. At the National Aviation Center, we offer a quick and comprehensive solution for filling out your bill of sale and processing it online. By using our easy-to-read web forms, you can save yourself the time it takes to sign a document and get it in the mail. As you will find, we also strip out any confusing language or fine print, only prompting you for the most pertinent details.
The Role of the FAA
You may find yourself wondering, why do I need to advise the FAA of a private transaction? Well, the FAA is tasked with an important responsibility. It is this agency’s mission to protect the skies of the United States for all aviators and passengers alike. Having an accurate record of all aircraft in the country allows them to better keep tabs on all air traffic.
When designing regulations and rules for aviators, it is logical that the FAA would prefer a detailed knowledge of who is taking to the skies. You can think of staying on top of your FAA documentation as an extension of your typical safety precautions. Just as you would not take off with enough fuel, so too should you not leave the runway without ensuring that all of your FAA registrations and licenses are current.
Get Your FAA Documents Online Today
Do not waste your valuable time chasing down paper copies of forms and taking long trips to the post office. Instead, work with us at the National Aviation Center. We are a private service that helps busy aircraft owners like you process the documents they need online in a comprehensive fashion. Whether you need an initial registration, a transfer of ownership, or even a claim of lien, we have simplified web forms for all of your necessary matters.
In this day and age, data security is of the utmost importance. For this reason, we employ an SSL-encrypted web portal to ensure the secure transmission of your personal information to the FAA. When working with us, you can rest easy knowing that you are in good hands. To learn more, contact us today.