One of the many unique things about having aviation as a hobby is that it is one you can maintain for much of your life. While your passion for airplanes may have started when you were a young child, you may find that you are able to pilot your own plane well into your twilight years. Of course, as your life continues to grow and take on new shapes, you may find that your aircraft needs will evolve as well. For instance, you might find yourself in the fortunate position of looking to upgrade your aircraft. Or, with more kids or grandkids, you may have less time for aviation and decide to sell it to someone else instead. Regardless of why you decide to offload your current aircraft, the good news is that planes are built to last and they hold their value accordingly. When you do find a buyer, though, you will need to prepare some paperwork for the Federal Aviation Administration (FAA). Namely, the onus is on you as the seller to submit an FAA Form 8050-2.
If you have found yourself in a position where you are looking to sell your aircraft, there are a few things you will need to do. First, you are going to want to get a good sense of your plane’s market value. You can do this by looking for comparable “for sale” listings for similar aircraft. You will also want to thoroughly inspect and clean your airplane so that any potential buyer is receiving an aircraft in good working condition. Once you have completed these steps, you can begin marketing your airplane in print or digital listings. You will want to take plenty of high-resolution photographs of your airplane’s interior and exterior, and you should also write engaging marketing copy that emphasizes your plane’s finer points. Once you come to terms with a seller, you can then work with us at the National Aviation Center to draft a bill of sale.
What is an FAA Form 8050-2?
When you buy just about anything, be it groceries, clothing, or some other item, you are given a receipt to document the transaction. A similar process will need to play out when you sell your plane, and that is done with a Form 8050-2 – Bill of Sale, which is then to be filed with the FAA. An airplane bill of sale is a bit more detailed than a typical receipt, and there are a few pieces of information that you will need to include. You should have your name and address, as well as those of the buyer, and the agreed-upon price. You will also want to include the plane’s make, model, N-number, and serial number. You can complete this form online by using our fillable web document.
Let Us Help You
No matter what your FAA paperwork needs may be, we have an easy-to-complete web form for you. Explore our website’s navigation menu to learn more about our services. You can also visit our Frequently Asked Questions page for additional information.