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- Click ‘Get Form’ to open the aircraft purchase agreement in our editor.
- Begin by filling in the 'Parties' section. Enter the Seller's name, address, city/state/zip, phone/fax, and email. Repeat this for the Purchaser.
- In the 'Aircraft' section, provide the registration number, make/model, and year/serial of the aircraft. Ensure all details are accurate.
- Specify the purchase price in the 'Purchase Price' field. This is the total amount that will be paid to the Seller.
- Complete the 'Deposit' section by entering the earnest money amount that will be held in escrow.
- Fill out details regarding closing procedures and any commissions in their respective sections to ensure clarity on responsibilities.
- Review sections on aircraft condition and encumbrances carefully to understand your rights and obligations before signing.
- Finally, sign and date at the bottom of the document where indicated for both parties.
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| Versions | Form popularity | Fillable & printable |
|---|---|---|
| 2011 | 4.8 Satisfied (167 Votes) |
Is a purchase agreement the same as closing?
A PO is created before there is an agreement between the parties: The buyer sends the PO to the seller, who then has the choice of whether to accept it. With a purchase agreement, the parties have worked out their agreement beforehand, and the purchase agreement is the written expression of that agreement.
What is an aircraft purchase agreement?
An aircraft purchase and sale agreement is the central document in any aircraft transaction, setting forth the most important terms of the deal. Gerrard Cowan asks industry experts to outline the major focuses in such agreements
What paperwork do I need to buy an airplane?
Forms for Buying and Selling Aircraft Aircraft Registration (AC Form 8050-1) Aircraft Bill of Sale (AC Form 8050-2) 8050-3- Current registration in aircraft, back filled out, signed and sent into FAA. Information if registering aircraft in an LLC. Sample Aircraft Purchase/Sales Agreement.
Can I make my own purchase agreement?
Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.
Does an aircraft bill of sale need to be notarized?
In some jurisdictions, the bill of sale may need to be notarized or witnessed by specific individuals. It may also need to include specific information such as the registration number of the aircraft, the names and addresses of the buyer and seller, the purchase price, and any applicable warranties or conditions.
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People also ask
What is the purpose of a purchase agreement?
While the PSA lays out the transactions details leading up to the closing date, the purchase agreement is what you sign to finalize the transaction.
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