The transfer of ownership process is one of the more particular ones you will have to deal with as an aircraft owner. You might think at first that this is only something you’ll have to deal with when getting rid of your aircraft, but the aircraft transfer of ownership forms might actually come in handy sooner than you’d think. Here’s a quick breakdown of what these are for.
When to File Aircraft Transfer of Ownership Forms
The name of the form is pretty self-explanatory, isn’t it? The form is indeed meant to facilitate the transfer of ownership of an aircraft when it is being sold, exchanged, or passed onto a new owner. However, this is not the extent of the form’s purpose and it will actually come in useful under different circumstances. Regardless of the situation, however, you can find the form readily available on our sidebar, along with all other forms relevant to your aircraft registration. Let’s go over the two main uses that the aircraft transfer of ownership forms will have so that you know when to submit it.
The first use is fairly obvious, evidently. You will need to fill out and submit this form whenever you are passing on the ownership of the aircraft as part of a sale, an exchange, or an inheritance procedure. This way, the existing registration of the aircraft in question is not deleted and is instead transferred to the new owner for their convenience and ease of use. This will be the most common use for the form given how many planes get transferred to new owners. Please note that the person in charge of filling out the form will be the current owner, not the new one, since they are the ones with the power to transfer their claim over the airplane.
Adding or Removing an Owner
Now, the other common instance in which you will need to use this form will be when adding an owner to the registration. Say, for example, that you got married or entered a business partnership. In these cases, you might end up wanting to add an owner to the aircraft in order to share the ownership for tax or financial purposes. You will need to use the aircraft transfer of ownership forms here as well, just remember to fill it out as a partial and not full transfer of ownership. The same form will apply when you are removing an owner, say, during divorce proceedings or partnership dissolutions.
Find All Relevant Forms at the National Aviation Center
There is no reason for transfers of ownership to be complicated procedures. At least not with our team on your side. We at the National Aviation Center want to make sure that this is an easy process for you, which is why all relevant forms are readily available for you on our sidebar. And, should you need some additional help with any of them, don’t worry. Use our website chat, fill out our contact form, or give us a call at 1-800-357-0893 and we’ll answer your questions in no time.