The Aircraft Bill of Sale AC 8050-2 form serves as a crucial document in the transfer of ownership for aircraft in the United States. This form not only provides a clear record of the transaction but also ensures compliance with federal regulations governing aircraft sales. Understanding its significance and proper usage is essential for both buyers and sellers in the aviation industry.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the aviation industry, serving as a legal record for the transfer of ownership of an aircraft. This form is essential for both buyers and sellers, as it provides proof of the transaction and outlines the details of the sale. Key components of the form include the names and addresses of both parties, a description of the aircraft, including its make, model, and serial number, as well as the sale price. Additionally, the form requires signatures from both the seller and the buyer, ensuring that both parties agree to the terms of the sale. By using the AC 8050-2, individuals can avoid potential disputes and ensure that the transfer of ownership is recognized by the Federal Aviation Administration (FAA). This form is not just a piece of paper; it is a vital part of the aircraft registration process and plays a significant role in maintaining accurate records in the aviation system.
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The Aircraft Bill of Sale AC 8050-2 form is an important document in the aviation industry. However, there are several misconceptions surrounding it. Here are five common misunderstandings:
Many believe that the AC 8050-2 form is only necessary for the sale of new aircraft. In reality, it is required for both new and used aircraft transactions. This form serves as proof of ownership transfer regardless of the aircraft's age.
Some people think that notarization is a requirement for the Aircraft Bill of Sale to be valid. While notarization can add a layer of authenticity, it is not a mandatory step. The form is valid as long as it is filled out correctly and signed by the seller.
Another misconception is that only the seller's signature is required on the AC 8050-2 form. Both the buyer and seller must sign the document for it to be complete. This ensures that both parties acknowledge the transaction.
Some believe that the form is irrelevant for aircraft registered outside the United States. However, if the aircraft is being imported into the U.S. or is intended for U.S. registration, the AC 8050-2 form is essential for establishing ownership.
Many assume that the AC 8050-2 form is only for large commercial aircraft. This is not true. The form applies to all aircraft types, including small private planes. Regardless of size, proper documentation is crucial for all aircraft sales.
When dealing with the Aircraft Bill of Sale AC 8050-2 form, understanding its key elements can help streamline the process of buying or selling an aircraft. Here are some important takeaways:
Understanding these key aspects of the Aircraft Bill of Sale AC 8050-2 form can facilitate a smoother transaction, providing peace of mind for both buyers and sellers.
When filling out the Aircraft Bill of Sale AC 8050-2 form, it’s important to follow certain guidelines to ensure accuracy and compliance. Here are ten things to keep in mind:
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.