The Aircraft Bill of Sale AC 8050-2 form is a crucial document used in the transfer of ownership for aircraft in the United States. This form serves as proof of the sale and outlines essential details about the aircraft, the buyer, and the seller. Understanding its importance can help ensure a smooth transaction process.
If you're ready to fill out the Aircraft Bill of Sale AC 8050-2 form, click the button below for assistance.
The Aircraft Bill of Sale AC 8050-2 form is an important document in the realm of aviation, specifically for the transfer of ownership of aircraft. However, several misconceptions surround this form. Below is a list that clarifies these misunderstandings.
This is not true. The form is required for all aircraft, regardless of size, when ownership is transferred.
While it is not necessary to be a lawyer, understanding the information required is crucial. Errors can lead to issues with ownership records.
This form is also used for gifts or other transfers of ownership, not just for sales.
Signing the form does not guarantee it is filed with the Federal Aviation Administration. It must be submitted separately.
Businesses and organizations involved in aviation also need to use this form for any transfer of aircraft ownership.
While it serves as a record of the transaction, it is not a legally binding contract in the same way a purchase agreement would be.
Requirements can vary by state, so it is essential to check local regulations in addition to federal requirements.
While electronic submissions are becoming more common, the FAA has specific guidelines about how the form must be submitted, which may include a physical signature.
Using the AC 8050-2 form is crucial because it meets the specific requirements set by the FAA for aircraft ownership transfers.
Even if an aircraft is registered in another country, if it is being sold to a U.S. buyer, the AC 8050-2 form is typically required for proper documentation.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document for transferring ownership of an aircraft. However, several other forms and documents are often used in conjunction with it to ensure a smooth transaction. Here’s a list of those essential documents.
Utilizing these forms and documents alongside the Aircraft Bill of Sale AC 8050-2 can help streamline the ownership transfer process. Being prepared with the right paperwork ensures a smoother experience for both buyers and sellers in the aviation market.
Filling out the Aircraft Bill of Sale AC 8050-2 form requires careful attention to detail. One common mistake is failing to include all necessary signatures. Both the seller and buyer must sign the document. If one signature is missing, the form may be deemed incomplete, leading to potential delays in the transfer of ownership.
Another frequent error is neglecting to provide accurate aircraft information. The form requires specific details such as the aircraft's make, model, and serial number. Inaccuracies can result in complications during registration, so it is crucial to double-check this information before submission.
People often overlook the importance of the date on the form. The date of the transaction must be clearly indicated. Without this, the document may not be valid, and the ownership transfer could be questioned. Ensure that the date reflects the actual transaction date.
Many individuals also forget to include the purchase price. This detail is essential for record-keeping and may be required for tax purposes. Leaving this section blank can lead to confusion and potential legal issues later on.
In addition, using incorrect or outdated forms is a common mistake. The Aircraft Bill of Sale AC 8050-2 must be the most current version. Using an outdated form can result in rejection by the Federal Aviation Administration (FAA).
Another mistake involves failing to keep copies of the completed form. It is vital for both the buyer and seller to retain a copy for their records. Without documentation, proving ownership or the terms of the sale may become difficult.
Additionally, people sometimes misinterpret the terms used in the form. Understanding what each section requires is important. Misunderstandings can lead to incorrect information being provided, which could affect the validity of the sale.
Lastly, individuals may rush through the process without reviewing the completed form. Taking the time to carefully review the entire document can prevent many of these common mistakes. A thorough review helps ensure that all information is correct and complete before submission.
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
U.S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION
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
NAME(S) OF SELLER
SIGNATURE(S)
TITLE
(TYPED OR PRINTED)
(IN INK) (IF EXECUTED FOR
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:
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.
Doctors Release Form - Attention to detail in the Work Release form can expedite the application process.
Having a properly completed Motor Vehicle Bill of Sale is essential for both parties involved in the transaction, as it not only solidifies the agreement but also provides legal protection. For those looking to create or obtain a Motor Vehicle Bill of Sale, resources such as OnlineLawDocs.com can be incredibly helpful in ensuring all necessary details are captured accurately.
Roofing Bid Template - Help roofing professionals understand your needs by filling out this form.