FAA Paperwork to Sell an Airplane

Introduction to Selling an Airplane

Selling an airplane can be a complex and time-consuming process, especially when it comes to completing the necessary FAA paperwork. The Federal Aviation Administration (FAA) requires various documents to be filled out and submitted when transferring ownership of an aircraft. In this article, we will guide you through the process of completing the necessary FAA paperwork to sell an airplane.

Understanding the Requirements

Before we dive into the paperwork, it’s essential to understand the requirements for selling an airplane. The FAA requires that all aircraft be registered, and the registration must be updated when the ownership of the aircraft changes. The seller must provide the buyer with a bill of sale, which is a document that proves the transfer of ownership. The buyer must then submit an application for registration to the FAA, along with the required fee.

Gathering Necessary Documents

To complete the FAA paperwork, you will need to gather the following documents: * Aircraft registration certificate: This is the document that proves the aircraft is registered with the FAA. * Aircraft bill of sale: This document proves the transfer of ownership from the seller to the buyer. * FAA form 8050-1: This is the application for registration, which must be completed by the buyer. * FAA form 8050-2: This is the bill of sale, which must be completed by the seller. * Proof of ownership: This can include a title or a previous bill of sale.

📝 Note: Make sure to keep a copy of all documents for your records.

Completing the FAA Paperwork

Now that you have gathered the necessary documents, it’s time to complete the FAA paperwork. The seller must complete the bill of sale (FAA form 8050-2), which includes the following information: * Aircraft make, model, and serial number * Aircraft registration number * Seller’s name and address * Buyer’s name and address * Date of sale * Sale price

The buyer must then complete the application for registration (FAA form 8050-1), which includes the following information: * Aircraft make, model, and serial number * Aircraft registration number * Buyer’s name and address * Seller’s name and address * Date of purchase * Purchase price

Submitting the FAA Paperwork

Once the paperwork is complete, the buyer must submit it to the FAA, along with the required fee. The fee for registering an aircraft with the FAA is currently $5. The buyer can submit the paperwork online or by mail.

Timeline for Completing the FAA Paperwork

The timeline for completing the FAA paperwork can vary, but it’s essential to complete it as soon as possible after the sale. The buyer has 60 days to submit the application for registration after the sale. If the buyer fails to submit the application within the 60-day timeframe, they may be subject to a late fee.

Table of FAA Forms and Fees

The following table outlines the FAA forms and fees required to sell an airplane:

Form	Description	Fee
FAA form 8050-1	Application for registration	$5
FAA form 8050-2	Bill of sale	None

Common Mistakes to Avoid

When completing the FAA paperwork, there are several common mistakes to avoid: * Incomplete information: Make sure to complete all sections of the form. * Incorrect information: Double-check the information for accuracy. * Missing signatures: Make sure all parties sign the documents. * Incorrect fee: Make sure to pay the correct fee.

📝 Note: Make sure to review the documents carefully before submitting them to the FAA.

In summary, selling an airplane requires completing the necessary FAA paperwork, including the bill of sale and application for registration. It’s essential to gather all necessary documents, complete the paperwork accurately, and submit it to the FAA within the required timeframe. By following these steps, you can ensure a smooth transfer of ownership and avoid any potential issues.