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Regardless of other circumstances-- even if you're buying out your
partner- it is all too possible that ANY aircraft
may have a lien against it of which the present owner is totally
unaware. The aircraft industry is full of horror stories about
people who have ignored this advice, spent a small fortune restoring
or painting or equipping their pride and joy, only to have a lien
holder from years back show up one day and legally reclaim his possession!
Don't put yourself in this precarious position, even if the seller
is your best friend. The FAA does not
notify an aircraft owner when a lien is filed against his aircraft,
and the only way to be sure, even for the seller, is to run
a current title search.
Sometimes a title search will reveal
that the present owner never filed his Bill of Sale,
or even registered the airplane- this is not all that unusual. You
can still buy and register the aircraft, but the FAA is going to
want to see a proper paperwork chain: from owner "A" to
owner "B", and then from owner "B" to you (called
a "chain of title").
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Why order
a Title Search when I can now get
the aircraft records on CD ROM from the FAA? |
There are several very good reasons not to rely on this approach.
First, the CD that the FAA will provide you is often NOT
COMPLETE. Many times a registration form, 337 or lien assignment
has recently arrived at the FAA registry, and has NOT yet been placed
on the CD ROM. These items are known in the industry as "loose
docs", and will NOT show up on the CD you receive from the
feds. The only way to be sure that you're
looking at ALL the documents relevant to any aircraft is have the
entire file professionally examined by a title expert.
Second, it takes about 10 days for the FAA CD to reach you.
Through our web site, you'll receive it in about half that time.
Also, unless you're a title examiner, tracking ownership from the
raw documents (which is all you get on the CD) can be very confusing
and intimidating. (When we ordered a CD for a 1963 Apache, the Registration
file alone was 24 Megabytes in size!) Wading through it to determine
Lien status would take hours and hours!) If you know how to determine
that a lien was properly released, how to track bank name changes
through the FDIC bank absorbtions of the late 80's, and how to determine
true chain of title, by all means order the CD from the FAA. If
not, we recommend a professional, certified title search performed
by title experts.
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How
long does it take to get the results? |
Normally any search requests
we receive are processed within 2-3 working days. Sometimes,
however, the FAA has moved the file to a different location while
they update it with recently received information. If the aircraft
you're researching is undergoing a records update, our researchers
must put in a special request for these records, to which the feds
can sometimes take up to one month to respond. While this delay
does not happen often, it's always a good idea to
request your title search well before
you actually purchase your plane.
Click
here to ORDER A TITLE SEARCH NOW.
NEVER, NEVER buy an airplane
without doing a title search!
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