AEROtitle also specializes in aircraft escrow services. As the aircraft escrow agent, we act as the neutral third party that handles all of your aircraft-related deposit of funds, reports, and documents. We are able to maintain the needs of each party to the transactions to ensure a smooth closing.
We will confirm immediately upon receipt of the deposit of funds. Deposits are held in escrow on behalf of the depositor, unless any document, agreement, or contract has been executed stating otherwise.
We will also provide the aircraft title reports. From the title reports, we will request the necessary documents to transfer title free and clear of existing liens and/or encumbrances. If new financing or leasing is applicable, we will obtain the necessary documents for recordation. We will confirm upon receipt of the original documents into escrow and confirm if any other items are necessary to perfect the recordation of these received documents.
We will hold all funds and documents in escrow pending further instructions and authorizations from the appropriate parties involved. Once we have these instructions and authorizations needed, we will complete the closing with the funds disbursed to pay any existing lien holders, pay invoices, pay commissions, and sales proceeds to the seller’s direction, as provided. Once funds are disbursed, as instructed, the documents will be dated the day of the sale and filed as necessary with the Federal Aviation Administration and International Registry, if applicable.
AEROtitle will provide the closing notification with the Federal wire reference numbers on the disbursed funds and the filed stamped copies of documents along with any other dated documents, such as Warranty Bills of Sale and Delivery Receipts. If the IR is applicable and participated, we will provide IR reports reflecting the filed documents.
Other aircraft escrow services are also provided, such as our Documents Only Escrow. For these specific transactions, we are able to provide the necessary reports and obtain the proper documents into escrow. AEROtitle will confirm receipt of documents and hold the documents in escrow pending further instructions and authorization when to date and file to perfect the transaction.
Please feel free to contact us with any aircraft escrow questions. Use the contact form to the right or call us at (866) 738-8330.