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

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Guide to Writing Aircraft Bill of Sale AC 8050-2

Once you have the Aircraft Bill of Sale AC 8050-2 form in hand, you’re ready to begin the process of completing it. This form serves as a legal document to transfer ownership of an aircraft. Following the steps below will help ensure that you fill it out correctly, which is crucial for a smooth transaction.

  1. Begin by entering the date of the sale at the top of the form. This is important as it marks the official transfer date.
  2. Next, fill in the names and addresses of both the seller and the buyer. Make sure to include the full legal names to avoid any confusion later.
  3. In the next section, provide the aircraft's details. This includes the make, model, year, and the aircraft's serial number. Accuracy here is key.
  4. Indicate the purchase price of the aircraft in the designated space. This should reflect the agreed-upon amount between the buyer and seller.
  5. Sign and date the form. Both the seller and buyer need to sign to validate the transaction. If there are witnesses, they should also sign in the appropriate section.
  6. Finally, make copies of the completed form for both parties. It’s wise to keep a record of the transaction for future reference.

After completing the form, it’s advisable to file it with the appropriate aviation authority to officially record the change of ownership. This step helps protect your rights and ensures compliance with aviation regulations.

Document Breakdown

Fact Name Details
Purpose The Aircraft Bill of Sale AC 8050-2 form is used to transfer ownership of an aircraft.
Required Signatures The form must be signed by both the seller and the buyer to be valid.
Filing Requirement This form is not required to be filed with the FAA, but it is essential for the buyer's records.
Transfer of Title Ownership is transferred upon the signing of the form, not upon the payment.
State-Specific Forms Some states may require additional forms for tax purposes or registration.
Governing Law In most states, the Uniform Commercial Code (UCC) governs the sale of aircraft.
Notarization Notarization is not required for the AC 8050-2 form, but it can add an extra layer of authenticity.
Identification of Aircraft The form requires the aircraft's N-number, make, model, and serial number.
Bill of Sale Copies Both parties should keep a copy of the signed form for their records.
Legal Implications Completing this form accurately can help avoid disputes over ownership in the future.

FAQ

What is the Aircraft Bill of Sale AC 8050-2 form?

The Aircraft Bill of Sale AC 8050-2 form is a legal document used in the United States to transfer ownership of an aircraft from one party to another. It serves as proof of the transaction and outlines the details of the sale, including the buyer, seller, and aircraft information.

Who needs to use the AC 8050-2 form?

Anyone involved in the sale or purchase of an aircraft should use the AC 8050-2 form. This includes private individuals, businesses, and organizations. It is essential for ensuring that the transfer of ownership is documented properly and recognized by the Federal Aviation Administration (FAA).

What information is required on the form?

The AC 8050-2 form requires specific details to be filled out, including:

  • The name and address of the seller.
  • The name and address of the buyer.
  • The aircraft's make, model, and registration number.
  • The sale price of the aircraft.
  • The date of the transaction.

Accurate information is crucial to avoid any potential disputes or issues with the FAA.

Is the AC 8050-2 form required for all aircraft transactions?

While the AC 8050-2 form is not legally required for every aircraft transaction, it is highly recommended. Using this form helps establish clear ownership and can protect both parties in the event of disputes. Additionally, the FAA requires it for recording the transfer of ownership in their records.

How do I complete the AC 8050-2 form?

To complete the AC 8050-2 form, follow these steps:

  1. Obtain the form from the FAA website or other authorized sources.
  2. Fill in the required information accurately.
  3. Both the seller and buyer must sign the form.
  4. Keep copies for your records.

After completing the form, it can be submitted to the FAA for recording if desired.

Do I need a notary to sign the AC 8050-2 form?

A notary is not required to sign the AC 8050-2 form for it to be valid. However, having the signatures notarized can provide an additional layer of authenticity and may help in case of disputes later on.

What should I do after completing the AC 8050-2 form?

After completing the form, it is advisable to:

  • Keep a copy for your personal records.
  • Provide a copy to the buyer.
  • Consider submitting the form to the FAA to officially record the transfer of ownership.

This ensures that both parties have documented proof of the transaction.

Can the AC 8050-2 form be used for partial ownership transfers?

The AC 8050-2 form is designed for full ownership transfers. If you are transferring partial ownership, it is recommended to create a separate agreement that outlines the terms of the shared ownership. This agreement should be kept alongside the AC 8050-2 form for clarity.

Where can I obtain the AC 8050-2 form?

The AC 8050-2 form can be obtained from the FAA's official website. It is available for download in PDF format, making it easy to print and fill out. Additionally, some aviation-related businesses may provide copies of the form.

What happens if I do not use the AC 8050-2 form?

If the AC 8050-2 form is not used, the transfer of ownership may not be documented properly. This could lead to complications, such as disputes over ownership, difficulties in registering the aircraft, or challenges in selling the aircraft in the future. It is always best to use the form to protect all parties involved.

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Aircraft Bill of Sale AC 8050-2 Example

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)