Evidence of ownership.

CFR · 2024-01-01 · US · Title 14

Except as provided in §§ 47.33 and 47.35, each person that submits an Aircraft Registration Application, AC Form 8050-1 under this part must also submit the required evidence of ownership, recordable under §§ 49.13 and 49.17 of this chapter, as follows: (a) The buyer in possession, the bailee, or the lessee of an aircraft under a contract of conditional sale must submit the contract. The assignee under a contract of conditional sale must submit both the contract (unless it is already recorded at the Registry), and his assignment from the original buyer, bailee, lessee, or prior assignee. (b) The repossessor of an aircraft must submit— (1) A Certificate of Repossession of Encumbered Aircraft, FAA Form 8050-4, or its equivalent, signed by the applicant and stating that the aircraft was repossessed or otherwise seized under the security agreement involved and applicable local law; (2) The security agreement (unless it is already recorded at the Registry), or a copy thereof certified as true under § 49.21 of this chapter; and (3) When repossession was through foreclosure proceedings resulting in sale, a bill of sale signed by the sheriff, auctioneer, or other authorized person who conducted the sale, and stating that the sale was made under applicable local law. (c) The buyer of an aircraft at a judicial sale, or at a sale to satisfy a lien or charge, must submit a bill of sale signed by the sheriff, auctioneer, or other authorized person who conducted the sale, and stating that

official document · source cfr-2024 · id 14:§ 47.11