The Aircraft Bill of Sale AC 8050-2 form serves as a legal document that transfers ownership of an aircraft from one party to another. This form is essential for ensuring that the transaction is recorded properly with the Federal Aviation Administration (FAA). Understanding its importance can streamline the buying or selling process, making it smoother for all parties involved.
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The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the buying and selling of aircraft. Here are some key takeaways to consider when filling it out and using it:
By following these guidelines, you can ensure a smoother transaction and avoid potential pitfalls during the sale or purchase of an aircraft.
When purchasing or selling an aircraft, the Aircraft Bill of Sale AC 8050-2 form is a crucial document. However, it is often accompanied by several other forms and documents that help ensure a smooth transaction and proper registration. Below is a list of essential documents commonly used alongside the Aircraft Bill of Sale.
These documents, when used in conjunction with the Aircraft Bill of Sale AC 8050-2 form, provide a comprehensive framework for the transaction. Ensuring that all necessary paperwork is completed accurately can help avoid complications and ensure a successful transfer of ownership.
Vehicle Bill of Sale: Similar to the Aircraft Bill of Sale, the Vehicle Bill of Sale documents the transfer of ownership of a motor vehicle. Both forms provide essential details such as the buyer's and seller's information, the vehicle's identification number, and the sale price.
Boat Bill of Sale: This document serves to transfer ownership of a boat. Like the Aircraft Bill of Sale, it includes the names of the buyer and seller, a description of the boat, and the purchase price, ensuring clarity in the transaction.
Real Estate Purchase Agreement: While focused on property, this agreement shares similarities in that it formalizes the transfer of ownership. It contains details about the parties involved, the property description, and the agreed-upon price, akin to the Aircraft Bill of Sale.
Motorcycle Bill of Sale: This document is specifically for the sale of motorcycles. It mirrors the Aircraft Bill of Sale by requiring information about the buyer, seller, motorcycle details, and sale price, ensuring both parties have a record of the transaction.
Business Asset Bill of Sale: This form is used when transferring ownership of business assets. It includes similar elements to the Aircraft Bill of Sale, such as the identification of the assets being sold, the parties involved, and the sale amount, providing a clear record of the transaction.
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The Connecticut ATV Bill of Sale form is essential for facilitating a smooth transaction, as it serves as a formal record of the sale and transfer of ownership of an all-terrain vehicle (ATV) within the state. This document ensures that all relevant details, including the parties' information, vehicle specifics, and sale conditions, are comprehensively captured. For those interested in buying or selling an ATV in Connecticut, filling out this form correctly is a crucial step. For more resources and templates, you can visit vehiclebillofsaleform.com/ to assist with your documentation process.
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Incomplete Information: One of the most common mistakes is leaving out essential details. Buyers and sellers must ensure that all sections of the form are filled out completely. This includes names, addresses, and the aircraft's specific details, such as its serial number and registration number.
Incorrect Signatures: Signatures must match the names listed on the form. If a seller or buyer uses a nickname or an abbreviation, it could lead to complications. Always sign the document as your legal name appears on identification.
Not Notarizing: The Aircraft Bill of Sale must often be notarized to be valid. Failing to have the document notarized can result in delays or even rejection during the registration process. Always check local requirements to ensure compliance.
Missing Dates: Dates are crucial in the context of a sale. Omitting the date of the transaction can create confusion later on, especially if disputes arise. Always double-check that the date is clearly noted on the form.
Not Retaining Copies: After completing the Aircraft Bill of Sale, individuals often forget to keep a copy for their records. Retaining a copy is essential for future reference, especially if you need to prove ownership or resolve any issues later.
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.