Aviation is a unique hobby in many ways. Not everybody has the irresistible urge to climb above the clouds and soar the skies all on their lonesome. Also, it takes quite a bit of study and instruction to get one’s pilot license from the Federal Aviation Administration (FAA). Though, if you are the determined sort who wants the freedom that is only afforded by piloting your own aircraft, it is a hobby that you can pursue much of your life. Pilots of all ages tend to take to the skies, and as your life evolves, you may too find yourself with different needs when it comes to personal aircraft. If you are considering selling your current airplane, or if you are planning to buy a new one, you may want to spend some time learning about the FAA Form 8050-2 – Aircraft Bill of Sale. Fortunately, we can break down what this form does, as well as show you how to complete one online.
Buying or selling an aircraft is one of the more significant transactions you will be involved in during your lifetime. The simple truth is that planes are expensive, and that does not even factor in the ongoing maintenance and storage costs that come with owning an airplane. If you are buying an aircraft for the first time, you will want to perform a considerable amount of research first, getting to know the various different types of aircraft available for purchase. You may also want to start saving or budgeting as soon as possible. Conversely, if you are selling an aircraft, you are going to want to market your plane effectively. This means taking high-resolution photographs of your airplane both inside and out and creating a dynamic “for sale” listing that emphasizes your aircraft’s selling points. When the time comes for the aircraft to change hands, you will also need to complete a bill of sale with the FAA.
How to Fill Out an FAA Form 8050-2
So, it’s time to sell your plane. As you get your aircraft ready for its new owner, you will probably want to thoroughly clean your aircraft and make sure it is up-to-date on its scheduled maintenance. Once you and the buyer have agreed on a price, you will also need to prepare a Form 8050-2, which is also called an FAA bill of sale. You can think of this document as a sort of receipt for your aircraft, in that it will provide some basic details about your transaction. You will want to note the names of the buyer and seller, as well as the aircraft’s N-number, serial number, make, and model. The purchaser’s address and the price of the aircraft should also be included.
Fill Out Your Bill of Sale Online
You can use our streamlined web form to fill out and process your 8050-2 online. Simply select the correct option from our navigation menu, and you will be brought to a fillable form that is easy to read. We will then process your document directly to the FAA via our SSL-encrypted web portal. To learn more about our services, take a few moments to explore our website.