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An aircraft bill of sale is a document that records the transfer of ownership of an aircraft from a seller to a buyer, covering various types of aircraft like airplanes, helicopters, and hot air balloons. This form is essential for both parties, offering guarantees and fulfilling requirements set by the Federal Aviation Administration (FAA) for aircraft registration. The official form, known as FAA Form AC 8050-2, can typically be found on the FAA's website. For buyers, the bill of sale is crucial as it ensures the purchase of a valuable asset with protections from the seller and facilitates proper registration. For sellers, it ensures payment and manages installment agreements.