Are you looking forward to buying a second-hand airplane? If so, you might want to know where and from whom it comes. Do some research before doing any transaction. It’s important to find out whether the owner of a potential aircraft is lying or telling the truth on several important issues. Knowledge on the matter may save you a problem in the long run. Learn why a plane abstract can be a deal-breaker.
What Is A Plane Abstract Of Title?
Plain and simple, a plane abstract it’s a record of all documents that have been submitted to the Federal Aviation Administration for one particular aircraft. An abstract can provide important information that can help a potential buyer or current owner cross-check past data about an airplane. It lists all its previous owners, where it was built, and when, years operating, among other things.
Why Should I Get a Plane Abstract?
Sometimes the price and conditions for a piece of aircraft may seem too good to be true. Used aircraft can hide claims of liens or unpaid mortgage loans, or the owner could not be telling the truth about how old it is. Pay attention to suspicious attitudes and proceed with caution.
Most owners have the best of intentions and want to get a good deal for letting go of their airplanes. However, some untrustworthy persons just want to get debt-free by transferring their debts to you. Buying an airplane that has claims of owed money by its owner is one way to do it, and you might not be able to legally operate without getting rid of these debts first.
Issues Regarding Abstracts of Title
Applying for a plane abstract might not be enough for evaluating all the risks before buying. There might be gaps in the timeline if the aircraft has been registered in different states or countries. Also, the abstract will only list the information that has been provided to the Federal Aviation Administration during the time the plane was registered. This means that there are probably going to be gaps in the information if the registration was left unrenewed at some point or if it changed owners.
Any background research beyond the abstract, like finding where it has been repaired or given service, can be useful for you to make the right decision when acquiring an aircraft.
The National Aviation Center Can Help You
If a second market airplane has caught your eye but the seller arouses suspicion, don’t overthink it. Apply for a plane abstract of title to stay at ease. Buy an airplane, not a problem. Our website makes it easy for you to deal with all the documentation you might need. We offer the application in electronic form on our site so you can fill out the form and send it to us in just minutes. You can find the right form on our website.