The FAA aircraft Registration, the permanent registration, a ” hard card,” an aviation certificate and officially known as AC form 8050- 3, should be removed from the aircraft immediately upon the closure by the previous owner. The seller needs to complete the boxes and blanks of the FAA registry and sign the original documents. Those should be mailed to the FAA at the address on the back of the FAA registry and can be signed by an authorized person of the seller. The time- frame requirements for returning the AC Form 8050- 3 to the FAA are in FAR 47.41(b). You can go through it if you want to.
Completing and Signing the Form
One of the options at the back of the form comes with the statement ‘the aircraft ownership is transferred to’ with a blank space for filling it with the new buyer’s name. When the airplane was sold, and the registration is transferred to the new owner, the blank space should be filled with the buyer’s name and address. At the last closing, you must use the name and address of the buyer from the FAA Registration Request form. Don’t just use the purchase agreement name of the buyer. The buyer may have acquired the title via a trust or a subsidiary. This information is provided by the escrow agency handling the sales closure.
Once you enter the name and address of the buyer in the blank line, a person with the authority to register on behalf of the previous owner must sign the back. It is usually a company officer or an agent, member or manager when the seller is a limited liability firm. Once the person has signed and dated the FAA aircraft registration, you should send the original FAA registration to the address of FAA, by keeping a copy of the FAA register on both sides of your record.
Returning the Registration
The FAA aircraft registration must be returned to the FAA Registry within 21 days of the transfer to the buyer of ownership. If you can’t surrender the certificate, you should submit it to the FAA Registry within the required period of FAR 47.41(b). You should add a statement describing the aircraft and stating the reason for its unavailability.
This regulation is not known to many. However, you may receive an FAA letter stating about the FAA’s awareness of the sale, and it will remind you of the return of the airplane registration. The letter may also provide reasons to comply with the requirements for the interests of national security, aviation safety, and the Federal Aviation Regulations.
If you fail to return the original FAA aircraft Registration, you will receive a letter from the FAA. However, if you have lost the authentic FAA Registration, you must reply to the FAA letter with the circumstances which will prevent your return by sending a statement.
Simple regulatory problems of the FAA can even be complicated. It is the reason for you to contact an experienced trust company to get your back. Have a consultation with our team at Aviation Trust Company and get all needful help you may require in this course.