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The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the world of aviation, serving as a formal record of the transfer of ownership for an aircraft. This form is essential for both buyers and sellers, as it provides a clear and legal means to establish the change in ownership. It includes important details such as the names and addresses of the buyer and seller, the aircraft's make and model, its serial number, and the purchase price. Additionally, the form requires the seller's signature, which confirms their intent to transfer ownership. Once completed, this document must be submitted to the Federal Aviation Administration (FAA) to ensure that the new owner is properly registered. Understanding the significance of the AC 8050-2 is vital for anyone involved in aircraft transactions, as it helps protect both parties and ensures compliance with federal regulations.
Key takeaways
When filling out and using the Aircraft Bill of Sale AC 8050-2 form, there are several important points to keep in mind.
- Accurate Information: Ensure that all information entered on the form is accurate and complete. This includes details about the aircraft, such as its make, model, and serial number.
- Signatures Required: Both the seller and buyer must sign the form. This signature confirms that both parties agree to the terms of the sale.
- Notarization: While notarization is not always required, having the document notarized can provide an additional layer of authenticity and may be requested by some state authorities.
- Record Keeping: Keep a copy of the completed form for your records. This document serves as proof of ownership transfer and may be needed for future transactions or registrations.
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When engaging in a transaction that involves transferring ownership, it is crucial to utilize the appropriate documentation, such as the Florida Bill of Sale. This form not only verifies the exchange but also protects both parties involved. For those looking for a streamlined process, you can access a comprehensive floridadocuments.net/fillable-bill-of-sale-form that outlines the necessary components for a successful sale.
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Documents used along the form
The Aircraft Bill of Sale AC 8050-2 form is an essential 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 and compliance with regulations. Below is a list of these important documents.
- Aircraft Registration Application (AC 8050-1): This form is used to register the aircraft with the Federal Aviation Administration (FAA) after the sale. It provides essential information about the aircraft and the new owner.
- Aircraft Eligibility Statement (AC 8050-88): This document certifies that the aircraft meets the eligibility requirements for registration. It is particularly important for ensuring that the aircraft complies with FAA regulations.
- Power of Attorney: If the seller or buyer cannot be present to sign documents, a Power of Attorney allows another person to act on their behalf. This document must be properly executed to be valid.
- North Carolina Motor Vehicle Bill of Sale: This form is essential for the sale of a vehicle in North Carolina, providing a clear record for both buyers and sellers. More information can be found at Formaid Org.
- Federal Aviation Administration (FAA) Form 337: This form is used to document major repairs or alterations made to the aircraft. It is necessary for maintaining compliance with safety regulations.
- Bill of Sale for Aircraft Engines (if applicable): If an aircraft engine is sold separately, this document serves as a record of the transaction, similar to the Aircraft Bill of Sale.
- Sales Tax Documentation: Depending on the state, proof of sales tax payment may be required. This document helps ensure compliance with state tax laws related to the sale of the aircraft.
Having these documents prepared and organized can significantly expedite the aircraft ownership transfer process. It's crucial to ensure all paperwork is accurate and complete to avoid any delays or complications.
Dos and Don'ts
When filling out the Aircraft Bill of Sale AC 8050-2 form, it is important to follow specific guidelines to ensure accuracy and compliance. Here is a list of things to do and avoid:
- Do provide accurate information about the aircraft, including the make, model, and serial number.
- Do include the full names and addresses of both the buyer and the seller.
- Do sign and date the form in the appropriate sections.
- Do ensure that all required fields are completed before submission.
- Do keep a copy of the completed form for your records.
- Don't leave any required fields blank; this can lead to delays or rejections.
- Don't use correction fluid or tape on the form; any errors should be crossed out and initialed.
- Don't forget to check for spelling errors in names and addresses.
- Don't submit the form without verifying that all information is accurate and complete.
Common mistakes
When completing the Aircraft Bill of Sale AC 8050-2 form, individuals often encounter several common pitfalls that can lead to complications down the line. One frequent mistake is failing to provide accurate and complete information about the aircraft. It is essential to include the correct make, model, and serial number. Inaccuracies can create confusion and might even jeopardize the transfer of ownership. Ensuring that all details are meticulously checked can save time and prevent future legal issues.
Another common error is neglecting to include the appropriate signatures. Both the seller and the buyer must sign the form for it to be legally binding. Some individuals mistakenly believe that only one signature is necessary, which can lead to delays in processing the sale. It is crucial for both parties to understand their responsibilities and ensure that they have signed the document before submission.
Additionally, people often overlook the importance of the date on the form. Failing to date the Aircraft Bill of Sale can create ambiguity regarding when the transfer of ownership occurred. This detail is significant, especially in cases where the timing of the sale affects taxes or registration. Always include the date to maintain clarity and avoid potential disputes.
Lastly, individuals sometimes forget to provide a clear description of the consideration involved in the sale. This refers to the amount paid for the aircraft. If this information is missing or vague, it can lead to misunderstandings about the transaction's value. Accurately stating the consideration not only fulfills legal requirements but also provides a clear record for both parties involved.
File Characteristics
| Fact Name | Description |
|---|---|
| Purpose | The Aircraft Bill of Sale AC 8050-2 form is used to document the transfer of ownership of an aircraft from one party to another. |
| Filing Requirement | This form is typically required to be filed with the Federal Aviation Administration (FAA) to ensure the new owner is recognized officially. |
| Signatures | Both the seller and the buyer must sign the form to validate the transfer of ownership. Their signatures must be notarized. |
| State-Specific Laws | While the AC 8050-2 is a federal form, state laws may also require additional documentation or forms for aircraft transactions. For example, California may require compliance with the California Vehicle Code. |
| Record Keeping | It's essential for both parties to keep a copy of the completed form for their records, as it serves as proof of the transaction. |
Form Sample
OMB Control No.
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
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
When a trade name is shown as the purchaser or seller, the name of the individual owner or
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
AC Form
UNITED STATES OF AMERICA |
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OMB Control No. |
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U.S. DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION |
Exp. 03/31/2024 |
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AIRCRAFT BILL OF SALE |
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FOR AND IN CONSIDERATION OF $ |
THE |
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UNDERSIGNED OWNER(S) OF THE FULL LEGAL AND |
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BENEFICIAL TITLE OF THE AIRCRAFT DESCRIBED |
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AS FOLLOWS: |
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UNITED STATES |
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REGISTRATION NUMBER |
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AIRCRAFT MANUFACTURER & MODEL |
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AIRCRAFT SERIAL NO. |
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DOES THIS |
DAY OF |
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HEREBY SELL, GRANT, TRANSFER AND |
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DELIVER ALL RIGHTS, TITLE, AND INTERESTS |
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IN AND TO SUCH AIRCRAFT UNTO: |
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Do Not Write In This Block |
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FOR FAA USE ONLY |
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NAME AND ADDRESS |
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(IF INDIVIDUAL(S), GIVE LAST NAME, FIRST NAME, AND MIDDLE INITIAL.) |
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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 |
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NAME(S) OF SELLER |
SIGNATURE(S) |
TITLE |
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(TYPED OR PRINTED) |
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(IN INK) (IF EXECUTED FOR |
(TYPED OR PRINTED) |
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SELLER |
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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
OMB Control No.
Exp. 03/31/2024
PRIVACY ACT OF 1974 (PL
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,
(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