When Bad Things Happen To Good Aircraft Buyers: Recognizing And Avoiding Aircraft Title Problems

Written by Greg Reigel

When Bad Things Happen To Good Aircraft Buyers: Recognizing And Avoiding Aircraft Title Problems

By Gregory J. Reigel

© 2004 All rights reserved.

Whether you are purchasing your first aircraft orrepparttar latest in a succession of aircraft, as an aircraft buyer you need to proceed with caution. If you don’t, afterrepparttar 119233 seller has left with your money, you may have unanswered questions: Do I really ownrepparttar 119234 aircraft? Have I missed any skeletons hiding inrepparttar 119235 closet that threaten my continued ownership and possession of my aircraft? What happens when someone else claims they own or have a prior interest in my aircraft?

To answer these questions, first we need to discuss whatrepparttar 119236 FAA requires for an aircraft purchase transaction. Then we will talk about some ofrepparttar 119237 problems/issues that an unwary buyer could face. Finally, we will address some ofrepparttar 119238 steps an aircraft buyer can take to ensure that he or she will berepparttar 119239 legitimate and undisputed owner ofrepparttar 119240 aircraft being purchased.

Recording Purchase Transactions With The FAA. When you purchase an aircraft, you receive an FAA Form 8050-2, Aircraft Bill of Sale showingrepparttar 119241 transfer/sale ofrepparttar 119242 aircraft fromrepparttar 119243 seller to you,repparttar 119244 aircraft buyer. The bill of sale must then be recorded withrepparttar 119245 FAA along with an FAA Form 8050-1, Aircraft Registration Application. (Unfortunately, Form 8050-1 is not available online, but must be obtained directly fromrepparttar 119246 FAA or your local FSDO). Additionally, forrepparttar 119247 most part, all interests in aircraft, whether a security interest, lien, mortgage or judgment, must also be recorded withrepparttar 119248 FAA Registry in Oklahoma City in order to be valid andrepparttar 119249 first recorded interest usually has priority over interests recorded at a later date.

Failure to timely and properly comply with these filing and recording requirements can result in problems forrepparttar 119250 aircraft buyer. What types of problems can happen? Although a variety of such problems exist, two specific ways in which an aircraft buyer can find himself or herself in trouble are when a seller fails to convey title torepparttar 119251 buyer or when a seller fails to convey "clear" title torepparttar 119252 buyer.

Seller Fails To Convey Title. In this situation,repparttar 119253 aircraft buyer does not becomerepparttar 119254 actual owner ofrepparttar 119255 aircraft. The seller may not necessarily intend forrepparttar 119256 aircraft buyer not to take title torepparttar 119257 aircraft. Rather,repparttar 119258 seller’s failure to convey title torepparttar 119259 aircraft buyer is inadvertent or unknowing. One such situation occurs whenrepparttar 119260 bill of sale contains errors. Potential errors can include whenrepparttar 119261 person signingrepparttar 119262 bill of sale does not have authority to sign on behalf ofrepparttar 119263 corporation or limited liability company that ownsrepparttar 119264 aircraft, whenrepparttar 119265 aircraft is incorrectly identified onrepparttar 119266 bill of sale or whenrepparttar 119267 person signingrepparttar 119268 bill of sale does not have capacity (e.g. a person signingrepparttar 119269 bill of sale is a minor, mentally insane or incompetent).

Unfortunately, situations also arise in whichrepparttar 119270 seller’s actions are intentional and result inrepparttar 119271 aircraft buyer not receiving title torepparttar 119272 aircraft. This can happen when a seller sells an aircraft twice andrepparttar 119273 second buyer actually records his or her bill of sale beforerepparttar 119274 first buyer. A similar result occurs ifrepparttar 119275 seller forgesrepparttar 119276 bill of sale or ifrepparttar 119277 aircraft is subject to judicial proceedings (such as bankruptcy, receivership, probate, conservatorship or dissolution of marriage), andrepparttar 119278 court has not authorizedrepparttar 119279 sale.

Justice will prevail!

Written by Terry L. Dashner

Faith Fellowship Church…PO Box 1586…Broken Arrow, OK 74013…Pastor Terry Dashner

Consider this…

When I applied for law enforcement many years ago, I was tested, evaluated, questioned, and grilled regarding whether or not I could use lethal force against another human being. I find it curious that it was assumed and not questioned when I enteredrepparttar service atrepparttar 119232 age of 18 that I would have no problem whatsoever using lethal force against an enemy ofrepparttar 119233 state. Not one brass official asked me whether or not I objected to carrying a .45 pistol or an M-16 Rifle, not to mention using one orrepparttar 119234 other against another human being. It was assumed I could do so because it was my duty as an American citizen.

Is there a double standard in this country?

We condemn a murderer torepparttar 119235 death chamber, only to have him stay on death roll for years while waiting for his appeals to run out, all atrepparttar 119236 tax payer’s expense. If that’s not crazy enough, we are constantly harassed by human rights groups telling us how evil we Americans are for administering capital punishment. I don’t get it. We have no problem asking 19 year olds to lay down their lives for their country. But we protectrepparttar 119237 rights ofrepparttar 119238 convicted. For example, how many names of young Americans who have died in Iraq can you name? Probably not many, right? But Scott Peterson you know because ofrepparttar 119239 media love affair with his trial. Something is wrong.

May I ask you a question?

Wouldrepparttar 119240 death of Jesus have purchased our redemption if He had chosen life in prison over capital punishment? This begsrepparttar 119241 question: Can honor be associated with death? I believe it can. Jesus said that there was no greater love than this that a man would lay down his life for a friend. Yes, it is tragic to hear of young soldiers dying, but they died with honor for a great nation—America. The tragedy of death is not that a young person dies. Young people die every day in America just like older people. The tragedy is that many people die without honor. Gangsters die for turf. Addicts die for one more high. But soldiers die for you and me.

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