When you are considering buying a new aircraft, you may be taken away by the idea of being transported in your very own plane, traveling through the skies and not having to pay a penny for airline tickets, substandard meals or poor service at the departure gate. Before you put down any money on a plane, you need to make sure that it is completely free of any financial considerations, and in particular that it does not have a plane claim of lien upon it. This claim can seriously hinder any attempt to make use of the plane before the financial problems are settled, and if you are not cautious then you may find your plane seized before you have any time to enjoy it. Understanding more about this will ensure that you are not caught out by a claim of liens in the future.
Plane Claim Of Lien : What Is It?
Typically, a claim of lien is one that is issued by a contractor who has worked upon the plane or provided services who have then not received any compensation for their work. They might be a laborer, engineer or parts provider, or they may have provided other types of services that have been used on the plane. The owner of the plane has then failed to pay, and the debt has escalated. In addition to personal debts owed by the plane owner, there may also be tax bills or unpaid credit bills that relate to the drain and will allow the seizure of assets. The courts may have issued a demand for the owner to give up any possessions, which might include the airplane.
How To Discover Liens On Your Plane
The FAA works closely with those who have debts against plane owners, and they have forms that claimants can fill in making a claim, as long as that lien matches state law in the area. The claimant will supply details of the money owed, dates where the debt was incurred, and a description of the plane including serial numbers and N numbers. These details are kept on a database, which you can search for when you conduct an ID number search on the plane. You can discover whether the plane that you are contemplating buying has any particular debts by conducting this search.
How To Make A Claim Of Lien
If you are someone who is owed money by the owner of a plane, then you might have decided to make an aircraft claim of lien with the FAA. This involves completing a lot of paperwork, and filling in forms with details that you might not be able to obtain on your own. The paperwork must at least include N Numbers, serial numbers, and other details of the plane, along with information concerning the debt. If you think that you would like help with making this claim, then you need to reach out to the National Aviation Center. You can do this by contacting us online or by calling us on (800) 357-0893 now.