FAA Transfer of Ownership Form and Other Uses

FAA Transfer of Ownership Form and Other Uses Dealing with any sort of FAA process is not necessarily simple. Like a lot of bureaucratic applications, these tend to be overly complicated. When we are talking about an FAA transfer, for example, we are referring to one form that has at least three different uses. What are these uses and how should you navigate each one of them? Here is a quick breakdown. Transfering Full Ownership The most common use for the transfer of ownership application will, somewhat obviously, be the full transfer of ownership over the aircraft to another person. This will be done in case of sales, exchanges, inheritance, and other venues by which one might pass on ownership over an airplane to someone else. This process must be fulfilled by the current owner of the aircraft, or someone acting on their behalf, in order for it to be valid. The sale in and of itself will not be enough to transfer official ownership over to the new claimant, so be sure to request that the registration is passed on to you as part of the sale. Adding a New Owner Now, the transfer form is not only for those who are transferring full ownership. In fact, it is often used by those transferring partial ownership to another person. Situations of joint ownerships such as marital unions, business partnerships, and family purchases will often call for the full ownership over the aircraft to be shared, in which case there is a specific process to add a new owner. Using the transfer form, all you need to do is fill it out, not as a full transfer, but as a partial, ensuring that the current owner remains throughout and is not removed from the registration. If you have any questions about this process, don’t hesitate to contact us. Removing an Owner Similarly to how the FAA transfer process is used to add a partial owner, it can also be used to remove one. In cases of partnership dissolutions, divorce proceedings, and similar situations of joint ownership, this process can be used to transfer full ownership to one of the partial ones. This process will also come in useful when one of the owners buys another’s share of the aircraft. Remember, once again, that merely buying someone off or agreeing to the removal will not make it official. It’s important that the process be made official by updating the aircraft’s Federal Aviation Administration registry and have it reflect the current accurate status of the ownership in question. FAA Transfer If a form has more than one use, it’s easy for it to quickly get confusing, especially if you haven’t really done this before. Don’t worry, though, because we can assist you with

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