When you purchased your aircraft, you finally closed. There will be questions later, but you have forgotten what your lawyer has said, and you don’t want to sort all these emails out. It is your cheat-sheet to answer your questions after closing.
The Registration Will Not Last Forever
After three years, your international aircraft registry must be renewed. Please note that the security code which allows you to perform the simple online renewal is on the expiration notice.
Be Careful While Putting an Address in the Registration
For important correspondence, the address of your applications will be used by the FAA in your airplane registration. You have some follow-up to do if you used an address that no one will check or from which someone will have to pass on your mail to you.
There Is an Expiry of the Entity’s International Registration
When you purchased your aircraft, your company registered with the International Registry, and after one year, you will be informed that your status will become inactive if you do not renew. If your purchases, sales or financing are not adequately planned, you may not need to renew. Have you, however, checked your funding documents to ensure that you are not regularly required to renew your International aircraft Registry?
The FAA Needs to be Notified
You have to amend your LLC statement in support and file with the FAA’s revised document if you changed the Member or manager of a limited liability company that owns your aircraft.
Complications Even after the Renewal
If the ownership or management of an airplane owner or any other entity is changing, your international aircraft registration may become inactive due to these structural changes. According to the FAA, United States Citizens, enterprises, partnerships, and limited liability companies have specific definitions. If it is not a common thing for you, you should learn from an expert. You might be surprised that your scheduled change would mean an invalidation of the aircraft registration because the entity would not fit in with the US FAA definition.
When your aircraft is being sold, it is advisable to remove the permanent registration and complete it and send it to the FAA by the registered owner. The directions and addresses are provided behind the permanent airplane registration.
If you still have confusion and questions in mind, feel free to ask us at AeroTitle. We have experts in our team to guide you on your way to the skies.