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Fill Out a Valid Aircraft Bill of Sale AC 8050-2 Template

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Contents

Form Specs

Fact Name Description
Purpose The Aircraft Bill of Sale AC 8050-2 form is used to transfer ownership of an aircraft from one party to another.
Filing Requirement While the form is not required to be filed with the FAA, it is necessary for establishing ownership and for registration purposes.
Signatories The form must be signed by the seller and the buyer, and it may require notarization depending on state laws.
State-Specific Laws Some states may have specific requirements regarding the transfer of aircraft ownership, including additional forms or fees.
Record Keeping Both parties should retain a copy of the completed form for their records, as it serves as proof of the transaction.
Form Availability The Aircraft Bill of Sale AC 8050-2 form is available through the FAA's website and can also be obtained from various aviation associations.

Dos and Don'ts

When filling out the Aircraft Bill of Sale AC 8050-2 form, it is important to follow certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do.

  • Do ensure that all information is accurate and complete.
  • Do use black or blue ink when filling out the form.
  • Do include the correct aircraft identification number.
  • Do sign and date the form in the appropriate sections.
  • Do keep a copy of the completed form for your records.
  • Don't leave any sections blank; if a section does not apply, indicate that clearly.
  • Don't use white-out or correction fluid on the form.
  • Don't forget to include the names and addresses of both the buyer and seller.
  • Don't submit the form without verifying all details are correct.
  • Don't rush through the process; take your time to avoid mistakes.

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Common mistakes

  1. Incomplete Information: Failing to provide all required details, such as the seller's and buyer's names, addresses, and aircraft information, can lead to processing delays.

  2. Incorrect Aircraft Identification: Entering the wrong aircraft model or serial number can cause significant issues, including complications with registration.

  3. Missing Signatures: Both the seller and buyer must sign the form. Omitting one or both signatures can invalidate the document.

  4. Not Notarizing the Document: Depending on state laws, notarization may be required. Failing to have the document notarized can result in legal challenges.

  5. Incorrect Date: Writing the wrong date of the transaction can create confusion and may affect the legal standing of the sale.

  6. Omitting Payment Details: Not specifying the purchase price or payment method can lead to misunderstandings between parties.

  7. Using an Outdated Form: Utilizing an older version of the Aircraft Bill of Sale can lead to rejection by the FAA.

  8. Neglecting to Keep Copies: Failing to retain copies of the completed form for both parties can complicate future transactions or disputes.

  9. Ignoring State-Specific Requirements: Each state may have additional requirements for aircraft sales. Not being aware of these can result in compliance issues.

Documents used along the form

The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the buying and selling of aircraft. However, it is often accompanied by other forms and documents that provide additional information or fulfill legal requirements. Here are four important documents that are commonly used alongside the Aircraft Bill of Sale.

  • Aircraft Registration Application (AC 8050-1): This form is essential for registering an aircraft with the Federal Aviation Administration (FAA). It includes details about the aircraft and the owner, ensuring that the aircraft is legally recognized and can be operated in U.S. airspace.
  • Aircraft Lease Agreement: If the aircraft is being leased rather than sold outright, a lease agreement outlines the terms between the lessor and lessee. This document specifies the duration of the lease, payment terms, and responsibilities for maintenance and insurance.
  • Aircraft Title Search: Conducting a title search is important to verify the ownership history of the aircraft. This document helps ensure that there are no liens or claims against the aircraft, providing peace of mind to the buyer.
  • General Bill of Sale: This document is crucial for detailing the terms of property transfer, ensuring both parties are protected in the transaction. For more information about its use, visit https://legalformspdf.com.
  • Bill of Sale for Parts: If the transaction includes parts or accessories, a separate bill of sale for those items may be necessary. This document provides proof of ownership and details about the parts being transferred.

Using these documents together with the Aircraft Bill of Sale helps streamline the process of buying or selling an aircraft. Each form plays a vital role in ensuring that the transaction is legally sound and that all parties are protected.

Misconceptions

The Aircraft Bill of Sale AC 8050-2 form is an essential document in the aviation industry, but several misconceptions surround its use and purpose. Here are seven common misunderstandings:

  1. The form is only necessary for new aircraft purchases. Many believe that the AC 8050-2 form is only required when buying a brand-new aircraft. In reality, it is needed for both new and used aircraft transactions.
  2. Only the buyer needs to sign the form. Some people think that only the buyer's signature is necessary for the form to be valid. However, both the buyer and seller must sign the document to complete the transaction legally.
  3. The form is only applicable in the United States. While the AC 8050-2 form is a U.S. document, it can also be used by foreign buyers and sellers when dealing with aircraft registered in the U.S.
  4. Filing the form is optional. A common misconception is that submitting the form to the Federal Aviation Administration (FAA) is optional. In fact, filing the AC 8050-2 is crucial for ensuring proper registration and ownership transfer.
  5. The form is a title document. Many individuals mistakenly believe that the AC 8050-2 serves as a title for the aircraft. Instead, it acts as a bill of sale, while the actual title is established through the FAA registration process.
  6. Any form of writing can serve as a bill of sale. Some people think that a simple handwritten note or email can substitute for the AC 8050-2 form. However, using the official form ensures compliance with FAA regulations and provides a standardized record of the transaction.
  7. The form can be filled out after the sale is completed. There is a belief that the AC 8050-2 can be completed after the sale has taken place. In fact, it should be filled out and signed at the time of the transaction to accurately reflect the details of the sale.

Preview - Aircraft Bill of Sale AC 8050-2 Form

OMB Control No. 2120-0042

Exp. 03/31/2024

PRA Public Burden Statement: A federal agency may not conduct or sponsor, and a person is not required to respond to, nor shall a person be subject to a penalty for failure to comply with a collection of information subject to the requirements of the Paperwork Reduction Act unless that collection of information displays a currently valid OMB Control Number. The OMB Control Number for this information collection is 2120-0042. Public reporting for this collection of information is estimated to be approximately 30 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, completing and reviewing the collection of information. All responses to this collection of information are required to show evidence of ownership to register an aircraft or hold an aircraft in trust in accordance with 14 CFR Part 47. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Information Collection Clearance Officer, Federal Aviation Administration, 10101 Hillwood Parkway, Fort Worth, TX 76177-1524.

AIRCRAFT BILL OF SALE INFORMATION

PREPARATION: Prepare this form in duplicate. Except for signatures, all data should be type-

written or printed. Signatures must be in ink. The name of the purchaser must be identical to the name of the applicant shown on the Aircraft Registration Application, AC Form 8050-1.

When a trade name is shown as the purchaser or seller, the name of the individual owner or co-owners must be shown along with the trade name.

If the aircraft was not purchased from the last registered owner, conveyances must be submitted completing the chain of ownership from the last registered owner, through all intervening owners, to the applicant.

REGISTRATION AND RECORDING FEES: The fee for issuing a certificate of aircraft registration is $5.00. An additional fee of $5.00 is required when a conditional sales contract is submitted in lieu of bill of sale as evidence of ownership along with the application for aircraft registration ($5.00 for the issuance of the certificate, and $5.00 for recording the lien evidenced by the contract). The fee for recording a conveyance is $5.00 for each eligible piece of collateral listed thereon. (There is no fee for issuing a certificate of aircraft registration to a governmental unit or for recording a bill of sale that accompanies an application for aircraft registration and the proper registration fee.)

MAILING INSTRUCTIONS:

If this form is used, please mail the original or copy which has been signed in ink to FAA Aircraft Registration Branch, P.O. Box 25504, Oklahoma City, OK 73125-0504.

AC Form 8050-2 (04/21)

UNITED STATES OF AMERICA

 

OMB Control No. 2120-0042

U.S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION

Exp. 03/31/2024

 

AIRCRAFT BILL OF SALE

 

 

FOR AND IN CONSIDERATION OF $

THE

 

UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND

 

BENEFICIAL TITLE OF THE AIRCRAFT DESCRIBED

 

AS FOLLOWS:

 

 

 

UNITED STATES

N

 

 

REGISTRATION NUMBER

 

 

AIRCRAFT MANUFACTURER & MODEL

 

 

 

 

 

 

AIRCRAFT SERIAL NO.

 

 

 

 

 

 

 

DOES THIS

DAY OF

,

 

HEREBY SELL, GRANT, TRANSFER AND

 

 

DELIVER ALL RIGHTS, TITLE, AND INTERESTS

 

 

IN AND TO SUCH AIRCRAFT UNTO:

 

Do Not Write In This Block

 

 

 

FOR FAA USE ONLY

 

NAME AND ADDRESS

 

(IF INDIVIDUAL(S), GIVE LAST NAME, FIRST NAME, AND MIDDLE INITIAL.)

 

DEALER CERTIFICATE NUMBER

AND TO

EXECUTORS, ADMINISTRATORS, AND ASSIGNS TO HAVE AND TO HOLD

SINGULARLY THE SAID AIRCRAFT FOREVER, AND WARRANTS THE TITLE THEREOF:

IN TESTIMONY WHEREOF

HAVE SET

HAND AND SEAL THIS

DAY OF

 

NAME(S) OF SELLER

SIGNATURE(S)

TITLE

 

(TYPED OR PRINTED)

 

(IN INK) (IF EXECUTED FOR

(TYPED OR PRINTED)

 

 

CO-OWNERSHIP, ALL MUST SIGN.)

 

 

 

 

 

SELLER

 

 

 

 

 

 

 

 

 

 

 

 

ACKNOWLEDGMENT (NOT REQUIRED FOR PURPOSES OF FAA RECORDING: HOWEVER, MAY BE REQUIRED BY LOCAL LAW FOR VALIDITY OF THE INSTRUMENT.)

ORIGINAL: TO FAA:

AC Form 8050-2 (04/21)

OMB Control No. 2120-0042

Exp. 03/31/2024

PRIVACY ACT OF 1974 (PL 93-579) requires that users of this form be informed of the authority which allows the solicitation of the information and whether disclosure of such information is mandatory or voluntary; the principal purpose for which the information is intended to be used; the routine uses which may be made of the information gathered; and the effects, if any, of not providing all or any part of the requested information.

Title 49 U.S.C. 44101 requires the registration of each United State civil aircraft as a prerequisite to its operation. The applicant for registration must submit evidence of ownership that meets the requirements prescribed in Part 47 of the Federal Aviation Regulations.

This form identifies the aircraft being purchased, and provides space for purchaser and seller identification and signature. This is intended only to be a suggested bill of sale form which meets the recording requirements of the Federal Aviation Act, and the regulations issued thereunder. In addition to these requirements, the form of bill of sale should be drafted in accordance with the pertinent provisions of local statutes and other applicable federal statutes.

The following routine uses are made of the information gathered:

(1)To support investigative efforts of investigation and law enforcement agencies of Federal, state, and foreign governments.

(2)To serve as a repository of legal documents used by individuals and title search companies to determine the ownership of an aircraft for registration purposes.

(3)To provide aircraft owners and operators information about potential mechanical defects or unsafe conditions of their aircraft in the form of airworthiness directives.

(4)To provide supporting information in court cases.

(5)To serve as a data source for management information for production of summary descriptive statistics and analytical studies in support of agency functions for which the records are collected and maintained.

(6)To respond to general requests from the aviation community or the public for statistical information under the Freedom of Information Act or to locate specific individuals or specific aircraft for accident investigation, violation, or other safety related requirements.

(7)To provide data for the automated aircraft registration master file.

(8)To provide documents for development of the aircraft registration statistical system.

(9)To prepare an aircraft register in electronic media as required by ICAO agreement containing information on aircraft owners by name, address, N-Number, and type aircraft, used for internal FAA safety program purposes and also available to the public (individuals, aviation organizations, direct mail advertisers, state and local governments, etc.) upon payment of applicable user charges reimbursing the Federal Government for its costs.

(10)The aircraft records maintained by the FAA Aircraft Registry are public records and are open for inspection in room 122 of the Registry Building, Mike Monroney Aeronautical Center, 6425 S. Denning, Oklahoma City, Oklahoma 73169. Individuals interested in such information may make a personal search of the records or may avail themselves of the services of a company or an attorney.

AC Form 8050-2 (04/21)

Key takeaways

When filling out the Aircraft Bill of Sale AC 8050-2 form, there are several important points to keep in mind. Understanding these can help ensure a smooth transaction.

  • The form serves as a legal document to transfer ownership of an aircraft.
  • It is essential to provide accurate information about the aircraft, including its make, model, and serial number.
  • Both the seller and buyer must sign the form for it to be valid.
  • The form must be completed in ink; using a typewriter or printed text is also acceptable.
  • Make sure to include the correct date of the sale.
  • Ensure that the seller's name matches the name on the aircraft's registration.
  • Consider having the document notarized to add an extra layer of authenticity.
  • Keep a copy of the completed form for your records.
  • Submit the original form to the FAA to officially record the change of ownership.
  • Be aware that incomplete or incorrect information may delay the registration process.

By following these guidelines, you can facilitate a more efficient transaction when buying or selling an aircraft.

Similar forms

  • Vehicle Bill of Sale: Similar to the Aircraft Bill of Sale, this document transfers ownership of a vehicle from one party to another. It includes essential details such as the buyer and seller's information, vehicle identification number (VIN), and sale price.

  • Boat Bill of Sale: Just like the Aircraft Bill of Sale, the Boat Bill of Sale serves to document the transfer of ownership of a boat. It typically includes the boat's specifications, the parties involved, and the agreed-upon sale price.

  • Real Estate Purchase Agreement: This document outlines the terms of a real estate transaction, similar to how the Aircraft Bill of Sale outlines the terms of an aircraft sale. It includes details about the property, purchase price, and any contingencies related to the sale.

  • Bill of Sale form: To ensure a smooth transfer, both parties can utilize a nydocuments.com/bill-of-sale-form/ to document the transaction.

  • Motorcycle Bill of Sale: Much like the Aircraft Bill of Sale, this document facilitates the transfer of ownership of a motorcycle. It captures important information about the motorcycle, the seller, and the buyer, ensuring a clear record of the transaction.

  • Business Asset Purchase Agreement: This agreement is similar in function to the Aircraft Bill of Sale, as it details the sale of specific business assets. It outlines what is being sold, the price, and the responsibilities of both parties.

  • Equipment Bill of Sale: Just as the Aircraft Bill of Sale records the sale of an aircraft, the Equipment Bill of Sale documents the transfer of ownership of various types of equipment. It includes the equipment details, buyer and seller information, and the transaction amount.