The Aircraft Bill of Sale AC 8050-2 form is a legal document used to transfer ownership of an aircraft from one party to another. This form serves as proof of the transaction and is essential for registering the aircraft with the Federal Aviation Administration (FAA). Understanding how to properly fill out this form is crucial for both buyers and sellers in the aviation industry.
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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 is not only essential for ensuring a clear title but also plays a significant role in the registration process with the Federal Aviation Administration (FAA). It includes vital information such as the names and addresses of the buyer and seller, a detailed description of the aircraft, including its make, model, and serial number, as well as the sale price. Additionally, the form requires the signatures of both parties, affirming their agreement to the terms of the sale. By using the AC 8050-2, individuals and businesses can streamline the transfer process and safeguard their interests, making it an indispensable tool in the aviation industry. Understanding the nuances of this form can help prevent legal complications and ensure compliance with federal regulations, thereby facilitating a smoother transaction for all parties involved.
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.
After obtaining the Aircraft Bill of Sale AC 8050-2 form, you will need to complete it accurately to ensure proper transfer of ownership. Follow these steps carefully to fill out the form correctly.
Once the form is completed, it should be submitted to the appropriate authorities to finalize the transfer of ownership. Ensure that copies are retained for both the buyer and seller for their records.
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 to transfer ownership of an aircraft from one party to another. This form is crucial for documenting the sale and ensuring that the transfer is recognized by the Federal Aviation Administration (FAA). It serves as proof that the seller has sold the aircraft and that the buyer has acquired it. Proper completion of this form is essential for registering the aircraft under the new owner's name.
Who needs to fill out the Aircraft Bill of Sale AC 8050-2 form?
Both the seller and the buyer of the aircraft need to fill out the Aircraft Bill of Sale AC 8050-2 form. The seller provides their details and confirms that they are the rightful owner of the aircraft. The buyer, on the other hand, provides their information and acknowledges the purchase. Both parties must sign the form to validate the transaction. It is important for both parties to ensure that all information is accurate to avoid complications during the registration process.
What information is required on the form?
The Aircraft Bill of Sale AC 8050-2 form requires several pieces of information. This includes the names and addresses of both the seller and the buyer, the aircraft's make, model, and serial number, as well as the date of sale. Additionally, the form may require details about the purchase price and any conditions of the sale. Accurate and complete information is vital, as it helps prevent disputes and ensures a smooth transition of ownership.
Is there a fee associated with filing the form?
While there is no fee specifically for completing the Aircraft Bill of Sale AC 8050-2 form itself, there may be fees associated with the registration of the aircraft with the FAA. After the form is completed and signed, the buyer must submit it along with the appropriate registration application and any applicable fees to the FAA. It’s advisable to check the FAA’s website or contact them directly for the most current fee information.
How do I submit the Aircraft Bill of Sale AC 8050-2 form?
The completed Aircraft Bill of Sale AC 8050-2 form can be submitted to the FAA as part of the aircraft registration process. This can be done by mailing the form to the appropriate FAA registry office. It is important to keep a copy of the signed form for your records. Additionally, ensuring that all accompanying documents are included with the submission will help avoid delays in processing the registration.
What happens if the Aircraft Bill of Sale AC 8050-2 form is not completed?
If the Aircraft Bill of Sale AC 8050-2 form is not completed, the transfer of ownership may not be recognized by the FAA. This could lead to complications such as issues with registration, liability, and even the ability to sell the aircraft in the future. Without this form, the new owner may not have legal proof of ownership, which can create challenges in various situations, including insurance claims or resale. Therefore, it is essential to complete and submit this form during any aircraft transaction.
When filling out the Aircraft Bill of Sale AC 8050-2 form, people often make several common mistakes that can lead to delays or complications in the transaction. One frequent error is failing to provide complete information about the aircraft. Each section of the form requires specific details, such as the aircraft’s make, model, and serial number. Omitting any of these details can result in a form that is deemed incomplete.
Another common mistake is not signing the form correctly. Both the seller and the buyer must sign the document. If one party forgets to sign, the form may not be valid. Additionally, signatures should match the names printed on the form. Discrepancies can raise questions and complicate the transfer process.
People also sometimes overlook the importance of the date. The date of sale is crucial for legal purposes. If the date is missing or incorrect, it can create confusion regarding when the transfer of ownership took place. This can lead to issues with registration and other legal implications.
Not using the correct version of the form is another pitfall. The Aircraft Bill of Sale AC 8050-2 has specific requirements that can change over time. Using an outdated version may lead to rejection by the Federal Aviation Administration (FAA). Always ensure you have the most current form before proceeding.
Inaccurate descriptions of the aircraft can cause problems as well. The form requires a detailed description, including the aircraft’s registration number. If the description does not match the official records, it can create complications during the registration process. Double-checking this information is essential.
People often forget to include the purchase price of the aircraft. This detail is necessary for tax purposes and helps establish the value of the transaction. Leaving it out can lead to misunderstandings and potential legal issues down the line.
Finally, not keeping a copy of the completed form is a mistake that can have lasting consequences. After submitting the Aircraft Bill of Sale, it’s wise to retain a copy for personal records. This can serve as proof of the transaction and may be needed for future reference or disputes.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document for anyone involved in the buying or selling of an aircraft. However, it is often accompanied by other forms and documents that help clarify ownership, ensure compliance with regulations, and facilitate the transfer process. Below are some commonly used forms that may accompany the Aircraft Bill of Sale.
Each of these documents plays a vital role in the process of buying or selling an aircraft. By understanding their purpose and importance, individuals can navigate the complexities of aircraft ownership with greater confidence and clarity.
The Aircraft Bill of Sale AC 8050-2 form is an important document in the transfer of aircraft ownership. It shares similarities with several other key documents in the aviation and legal fields. Here are four documents that are similar to the Aircraft Bill of Sale AC 8050-2:
When filling out the Aircraft Bill of Sale AC 8050-2 form, it is important to adhere to certain guidelines to ensure accuracy and compliance. Below is a list of actions to take and avoid.
The Aircraft Bill of Sale AC 8050-2 form is an important document in the aviation industry, yet many misconceptions surround it. Understanding these misconceptions can help individuals navigate the process of buying or selling an aircraft more effectively. Below are eight common misconceptions about the AC 8050-2 form, along with clarifications.
This is not true. The AC 8050-2 form is required for all aircraft transactions, regardless of size or type, including private and small aircraft.
Notarization is not a requirement for the AC 8050-2 form. However, it is advisable to have the signatures witnessed to ensure authenticity.
While the form does protect the seller by documenting the sale, it also serves to protect the buyer by providing proof of ownership.
Only the FAA-approved AC 8050-2 form is recognized for registering the aircraft with the Federal Aviation Administration.
The AC 8050-2 form is also necessary for other transactions, such as when an aircraft is being gifted or inherited.
While the AC 8050-2 form can be submitted electronically, it is crucial to check the specific requirements of the FAA or the local registry.
The form remains valid as long as the transaction is properly recorded and the aircraft is registered with the FAA.
It is essential to retain a copy of the AC 8050-2 form for your records, as it serves as proof of the transaction and ownership.
By addressing these misconceptions, individuals can better understand the importance and requirements of the Aircraft Bill of Sale AC 8050-2 form in their aircraft transactions.
The Aircraft Bill of Sale AC 8050-2 form is a crucial document in the transfer of ownership for aircraft. Understanding its proper use and completion is essential for both buyers and sellers. Here are key takeaways regarding this form:
Understanding these key aspects can facilitate a smoother transaction process when buying or selling an aircraft.