You have had the same airplane for several years now. While it has served you well and keeps doing so, you are ready to upgrade to something else that suits you better. Before you go out and buy a new plane yourself, you may want to investigate selling what you have right now. There are always individuals and businesses on the lookout for aircraft on the secondary market so that you can get fair market value for your plane and put that money towards a new purchase. Selling is a process you go through with advertising, showing the plane, and agreeing on a deal. Once you have an agreement in place, you need to take care of some paperwork. First and foremost, you need to fill out form AC 8050-2 as a part of the transaction.
What is This Form?
AC 8050-2 is the formal Bill of Sale document needed when you are selling a plane. This form is put out by the FAA and is what is required by both the buyer and seller to conduct a transaction. The form is specific about what you need to fill out, asking for the name and address of the purchaser and the name of the seller. You also need to supply information about the aircraft, including the registration number (the N-number), the manufacturer and model number, and the serial number. You also need to supply the sale price and your signature. Remember to provide two copies of the document to the buyer since that is what they need to submit to the FAA when they register. You may also want to keep a photocopy for your records.
Check Form Accuracy
When you fill out form AC 8050-2, be sure all the information is accurate. Incorrect information can cause problems or delays along the way. Pay close attention to the name used on your registration and make sure it matches the name you use as the seller. Things like forgetting a middle initial or a Sr. or Jr. at the end of your name will nullify the document, and you will have to fill it out again, get the proper signatures again, and more. It is a good idea to check everything over the first time when you are filling out the form, so it is correct.
After AC 8050-2
Once you have filled out form AC 8050-2, turned over the Bill of Sale, and the plane to its new owner, you may want to get out and buy yourself that new aircraft you had your eye on. When you close your deal, you will want to come to us at the National Aviation Center so we can assist you in filing all your registration paperwork. Our services include helping with initial registration, getting abstract of title, filing a plane security agreement, and much more. Use our website to take care of FAA paperwork, the fast and secure method, so you never have to worry about airplane paperwork.
Useful next steps after Filling Out and Filing Form AC 8050-2
The next record task after Filling Out and Filing Form AC 8050-2 depends on the aircraft status, owner details, and the document being prepared. The options below keep the follow-up focused.
Questions before continuing with Filling Out and Filing Form AC
Which details should be ready before Filling Out and Filing Form AC?
For Filling Out and Filing Form AC, have the bill of sale details, buyer and seller names, aircraft identifier, and signer authority ready before you begin. A short review up front makes the secure intake easier to complete and reduces avoidable follow-up caused by missing or mismatched information.
What can slow the request connected with Filling Out and Filing Form AC?
Common slowdowns around Filling Out and Filing Form AC include unsigned sale documents, mismatched names, unclear ownership chain, or missing buyer information. Checking those items before submission can prevent avoidable rework and help the request stay tied to the correct aircraft record.
When should another aircraft record action be reviewed with Filling Out and Filing Form AC?
When Filling Out and Filing Form AC also involves a sale, owner change, mailing update, certificate need, title search, lien, mortgage, or registry status concern, review the nearby support options before choosing a secure form.
Can National Aviation Center help prepare information for Filling Out and Filing Form AC?
National Aviation Center can organize information connected with Filling Out and Filing Form AC, screen common preparation issues, and guide the request toward the secure form area. The company is a private document processor and is not the FAA.
Additional aircraft record references for Filling Out And Filing Form Ac
These nearby references keep registration, ownership, certificate, title, and document-preparation materials connected to the main topic.