plane exchange of ownership

Plane Exchange of Ownership and How to Carry Out

When it comes to transferring ownership of an aircraft to someone else, whether it’s fully or partially, you will need to make use of the corresponding forms. Allow us to explain the basics of the process for a plane exchange of ownership and how you can easily carry it out.

Plane Exchange of Ownership

A plane exchange of ownership can take different forms. This process will technically include circumstances in which you are not passing along the complete ownership, you are merely altering it. For example, if you’re getting married, then you might want to share ownership over the aircraft and transfer a partial claim over it to your spouse. The same will be true the other way around. If you’re getting a divorce, then you might want to revert the ownership back to one of the two owners. These partial transfers are iterations of this process, sure, but they are not always the most common ones. Let’s take a look at what a full exchange of ownership looks like.

Submitting the Corresponding Forms

Now, when it comes to full transfers of ownership, also known as a plane exchange of ownership, you are passing along the totality of the claim over the aircraft to someone else. This is the case when you’re selling the plane or passing it along to someone else. You might think that the sale itself is enough to make it official, but the registration with the Federal Aviation Administration needs to be updated in order to reflect the new owner. Sure, this seems like kind of an annoying administrative process to deal with, but it doesn’t have to be. It can actually be pretty simple. The bulk of the process will involve submitting the corresponding form to the FAA, which you can conveniently do through our website.

Meeting All Registration Needs Going Further

The new owner won’t have to apply for the aircraft’s initial registration given that the transfer will actually take care of that. However, they will still have to take care of updating and maintaining their registration going forward. For example, they will have to update it when the registration is about to expire, as well as request to update it if at some point they move, or any information relevant to the aircraft changes. All the forms that they might need to maintain their registration in order, whether they are for renewal, reinstatement, or updating, will be available for them to fill out and submit here on our website. Follow up your plane exchange process with the proper documentation.

Get All the Exchange Documentation

Applying for and maintaining your plane registration, be it because you’re updating it, deleting it, or getting it for the first time, can often seem complicated. However, it doesn’t have to be if you have the proper guidance. That is what we at the National Aviation Center are here for: to help you get your plane exchange process and all other related needs. You can 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.