Aircraft Trust CompaniesFAA Aircraft Owner Trust

How Do Aircraft Trust Companies Help With Short-Term Trusts

By October 2, 2018 November 30th, 2018 No Comments

You are answerable to the FAA when it comes to your aircraft registration and clearance to fly in U.S. airspace. The FAA is the authority where you need to register your aircraft or re-register it. Whether you have a used airplane, a private jet or anything else that operates in the air – you need to come to the FAA. Registering an airplane on your own is quite difficult; therefore you can seek the services of aircraft trust companies. These are the companies that you can completely rely upon to register an aircraft. As this is a tedious job, doing it on your own can be tough and troublesome. When a US-registered aircraft sale is closed, its registration becomes invalid. That plane must be re-registered to meet all the requirements for flight.

When you hand over this responsibility to the FAA aircraft owner trust, they have certain terms which you might not understand. Aircraft trust companies in Oklahoma City are extremely knowledgeable about those terms, but as a layman, you may not be. Here are some of some comprehensive terms just for you.

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Aircraft in Transition

There are specific requirements for foreigners who have worked in the U.S. and purchased an aircraft. It may need a few modifications to meet the requirements of another country and to be exported safely to another country. Whatever the situation is, the buyer has to register the aircraft in the United States but being a foreigner they cannot do this in the U.S., as per the FAA rules and restrictions. When an aircraft is sold, the registration becomes invalid and it cannot be kept registered under seller’s name. Not registering is also not an option, because it would not be able to leave the country. Therefore, the best possible way is to register the aircraft is through a trust. This situation is known as the transition period of an aircraft.

An Aircraft From The House Of A Foreign Manufacturer

In the United States, there are aircraft manufacturers. An aircraft coming from a foreign manufacturer’s factory does not meet the requirements of the U.S. registration policy. It needs a short-term trust to be used as a demonstrator by the makers. There are aircraft trust companies in Oklahoma City which help these manufacturers to get a short-term trust.

Stored or Repossessed Aircraft

You can place an aircraft into a short-term trust so that it remains on the FAA registry only when it is repossessed by non-U.S. lenders. These airplanes are often stored and maintained in the United States for repossession and remarketing.

An Aircraft Not Certified By the Buyer’s Country

In certain cases, some countries cannot register an aircraft because of an absence of policies. Here, the short-term trust is the only way to get an FAA certification when it is operated by a non-U.S. citizen.

Each of these terms and states requires a long period of time, therefore, being an owner of an aircraft, you should be in contact with an FAA aircraft owner trust. Contact Aviation Trust Company when you need to register or re-register an aircraft. To deal with situations where you have to put extra effort in on your own, especially when you do not have in-depth knowledge, it is always better to hire a professional.

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