CONSIDERING that the seller wishes to sell the aircraft to the buyer (as defined in point 1.1 a) and that the buyer wishes to buy it from the seller under the conditions provided; and this document not only mentions the sale of an aircraft and is one of the necessary documents to register your aircraft in accordance with federal aviation law. It is important to document everything accordingly in order to avoid problems with local, state and federal laws. Once the sales bill is complete, the buyer has some time to inspect the aircraft. An experienced mechanic can usually do the job in a few hours depending on the size of the aircraft. Large corporate or private jets may take longer. The seller wishes to exchange the full right, title and participation of the seller on the aircraft for other aircraft of the same nature and qualifying use, in accordance with Section 1031 of the Internal Income Code. In order to promote these rights, the seller expressly reserves the right to exercise his rights, but not his obligations, in accordance with IRC Reg. 1.103l (k) -l (g) (4) to be sold to Exeter 1031 Exchange Services, LLC, a qualified intermediary. The aircraft sales invoice is a legal sales document that is required to record the private transaction of planes from a seller to a buyer. It contains information about the buyer, seller, makeup and model and purchase price. Once you are sure you want to buy this aircraft, you should fill out two copies of the “Airplane Ticket” form.
The FAA requires this form to provide certain information on the record. We strongly recommend that you use our pre-approved form so that you do not contain important information. In accordance with this specific contract for the purchase of aircraft (the “agreement”), the date – date and after and between ________In reference to the aircraft mentioned above (the “aircraft”) confirms that the purchaser has completed his inspection of the aircraft on that date. (b) The performance, supply and delivery of the contract by the seller has been duly authorized by all necessary measures on behalf of the seller and is not in contradiction with a violation of any of the conditions or resulting in a delay in a document, instrument or agreement involving the seller. (g) The seller agrees to compensate the buyer for and against any claim by a broker or other party that asserts an interest in the aircraft or the purchase price resulting from a real or alleged or contractual relationship or agreement with the seller. The total purchase price of the aircraft is equal to 1.2 a) With regard to the purchaser, this contract and the agreement of the purchaser of a certain – (b) With regard to the seller, this agreement and the Seller`s agreement to purchase other similar alternative aircraft are interdependent. This form also contains a number of sections entitled that most parties must read and accept. These sections contain terms for: inability to perform, taxes, assignment, notice of parties, laws, waiver and severity.
Once all the conditions have been agreed and the form is completed, the buyer must deposit the down payment for the purchase.