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 a legal record, ensuring that the transaction is recognized by the Federal Aviation Administration (FAA). Understanding its significance is essential for anyone involved in buying or selling an aircraft.
The Aircraft Bill of Sale AC 8050-2 form plays a crucial role in the transfer of ownership for aircraft within the United States. This official document serves as a legal record that details the transaction between the seller and the buyer, ensuring that both parties have a clear understanding of the terms involved. It includes essential information such as the aircraft's make, model, and serial number, as well as the purchase price and the names and addresses of both the buyer and seller. By providing a standardized format, the AC 8050-2 form simplifies the process of documenting ownership transfers, which is vital for registration with the Federal Aviation Administration (FAA). Furthermore, the form requires the signatures of both parties, affirming their agreement to the terms laid out within the document. This form not only protects the interests of both the buyer and seller but also facilitates the smooth transition of ownership, making it an indispensable tool in the aviation industry.
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. This form serves as proof of the transaction between the seller and the buyer. It includes essential details such as the aircraft's make, model, and serial number, as well as the names and addresses of both parties involved in the sale. Proper completion of this form is crucial for ensuring a smooth transfer of ownership and for registering the aircraft with the Federal Aviation Administration (FAA).
Who needs to fill out the AC 8050-2 form?
Both the seller and the buyer of the aircraft must complete the AC 8050-2 form. The seller provides the necessary information regarding the aircraft and confirms their intent to transfer ownership. The buyer, on the other hand, acknowledges the purchase and accepts the terms of the sale. It is important that both parties review the information carefully to avoid any discrepancies that could complicate the ownership transfer process.
What information is required on the AC 8050-2 form?
The AC 8050-2 form requires specific information to be filled out accurately. This includes the aircraft's make, model, year of manufacture, and serial number. Additionally, the form must contain the names and addresses of both the seller and the buyer. The date of the transaction is also essential. Both parties must sign the document, and if applicable, the form may need to be notarized to ensure its validity.
Is notarization necessary for the AC 8050-2 form?
Notarization is not always required for the AC 8050-2 form; however, it is highly recommended. Having the document notarized can provide an extra layer of protection for both parties, as it verifies the identities of the individuals involved and confirms that they signed the form willingly. Some state laws or specific circumstances may require notarization, so it is wise to check local regulations before finalizing the sale.
Where do I submit the completed AC 8050-2 form?
Once the AC 8050-2 form is completed and signed, it must be submitted to the FAA for processing. This can typically be done by mailing the form to the appropriate FAA office. It is important to keep a copy of the completed form for personal records. Additionally, buyers should ensure that the FAA updates their records to reflect the new ownership of the aircraft, as this is essential for legal and operational purposes.
Filling out the Aircraft Bill of Sale AC 8050-2 form is a crucial step in the process of buying or selling an aircraft. Here are some key takeaways to keep in mind:
By following these key points, you can ensure a smoother transaction when using the Aircraft Bill of Sale AC 8050-2 form.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the process of buying or selling an aircraft. However, several misconceptions can lead to confusion for both buyers and sellers. Here are nine common misunderstandings about this important form:
Understanding these misconceptions can help streamline the process of buying or selling an aircraft, ensuring all parties are well-informed and prepared.
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.
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Incorrect Aircraft Information: Many people fail to provide accurate details about the aircraft. This includes the make, model, and serial number. Double-checking this information is crucial.
Missing Signatures: A common oversight is neglecting to obtain the necessary signatures from both the buyer and the seller. Without these signatures, the form is not valid.
Inaccurate Purchase Price: Some individuals mistakenly enter the wrong purchase price. This figure should reflect the agreed amount and must be clearly stated to avoid confusion.
Failure to Date the Form: It’s important to include the date of the transaction. Some people forget this step, which can lead to complications later on.
When filling out the Aircraft Bill of Sale AC 8050-2 form, it is essential to adhere to certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do during this process.
The Aircraft Bill of Sale AC 8050-2 form is similar to the Vehicle Bill of Sale, which is used for the transfer of ownership of motor vehicles. Both documents serve as proof of the sale and include essential details such as the buyer's and seller's information, a description of the vehicle or aircraft, and the sale price. Just like the Aircraft Bill of Sale, the Vehicle Bill of Sale can be used to register the vehicle with the state, ensuring that the new owner has legal claim over the property.
Another document that shares similarities is the Real Estate Purchase Agreement. This agreement outlines the terms of a real estate transaction, including the parties involved, property details, and purchase price. Similar to the Aircraft Bill of Sale, it acts as a legally binding contract that protects both the buyer and seller by documenting the terms of the sale and providing a record of the transaction for future reference.
The Boat Bill of Sale is also comparable to the Aircraft Bill of Sale AC 8050-2. This form is used when transferring ownership of a boat, and it includes information about the vessel, the buyer, and the seller. Both documents serve to confirm the sale and facilitate the registration process with the appropriate authorities, ensuring that ownership is properly transferred.
The Motorcycle Bill of Sale is another document that resembles the Aircraft Bill of Sale. It is specifically designed for the sale of motorcycles and includes similar elements, such as the identification of the buyer and seller, a description of the motorcycle, and the sale price. Both documents provide a record of the transaction and help establish legal ownership.
The Equipment Bill of Sale is also akin to the Aircraft Bill of Sale. This document is used for the transfer of ownership of various types of equipment, such as construction or agricultural machinery. Like the Aircraft Bill of Sale, it includes details about the equipment, the parties involved, and the terms of the sale, serving as proof of the transaction.
For those interested in a detailed record of their transaction, consider accessing a comprehensive bill of sale for California property through this comprehensive bill of sale template, which can help ensure all necessary information is properly documented.
The Personal Property Bill of Sale is another similar document. It is utilized for the sale of personal items, such as furniture or electronics. This document captures the essential details of the transaction, including a description of the items sold and the purchase price. Both the Personal Property Bill of Sale and the Aircraft Bill of Sale provide evidence of ownership transfer.
In addition, the Mobile Home Bill of Sale shares characteristics with the Aircraft Bill of Sale. This form is used to document the sale of a mobile home and includes pertinent information about the buyer, seller, and the mobile home itself. Both documents serve as legal proof of sale and help facilitate the transfer of ownership in their respective contexts.
The Farm Equipment Bill of Sale is another document that is similar in nature. This form is used for the sale of agricultural equipment and includes essential details about the buyer, seller, and the equipment being sold. Like the Aircraft Bill of Sale, it acts as a legal record of the transaction, ensuring that ownership is properly transferred.
Lastly, the Trailer Bill of Sale is comparable to the Aircraft Bill of Sale AC 8050-2. This document is used when selling a trailer and includes information about the trailer, as well as the buyer and seller. Both documents serve to confirm the sale and provide a record that can be used for registration and ownership verification.