Aircraft Title and Escrow

What Makes an Escrow Agent an Inseparable Part of Aviation

By October 25, 2018 December 21st, 2018 No Comments

We already talked a lot about the importance of hiring an escrow agent while dealing with airplane registration and preparing documents. To be specific, they are a third party that keeps a kind of bond and only releases it upon a party fulfilling  certain conditions. Apart from looking after your financial transactions, Aero Title, an aircraft title and escrow agent looks after the documents too. Let’s start revealing how they help.

aircraft title and escrow

Documents in Escrow

It would be difficult to manage each document that needs to be signed by everyone including buyers, lenders, attorneys, brokers or anyone else, and get the documents to the FAA  in time for closing. But Oklahoma City based Aero Title are an escrow agent that knows how to deal with it all. What would happen if you are dealing with the papers on your own and you miss any of it? You could have to face the most severe consequence which is registration cancelation. Do you think your bank will ever agree to grant a loan if you do not appear with all the papers? The FAA registration process can also cause havoc when it is a more complex situation.

Document Filing and Recording

The FAA rules and regulations for documentation is extensive and if you have no idea of about it, send the documents to an escrow agent. They know how to deal with it well. If you directly send the documents to the FAA, there is a high chance it will be rejected. There are procedures to follow when sending and managing each paper that a layperson might not know. An aircraft title and escrow agent diminishes this threat.

Response Time

The FAA remains very busy with processing the documents  that are submitted on a daily basis. If you mail your documents or send them improperly organized, documents can linger and your paper processing time could take up to eight weeks. This is a waste of your time, to stave off this hassle, hire an escrow agent in Oklahoma City to assist.

Aero Title is very efficient when doing the entire task on behalf of an airplane owner. They know how to take care of the documents and instead of shipping the papers to the FAA, they physically take them to the office. You can only expect the right documentation, closing date etc. only with an efficient aircraft title and escrow agent like Aero Title.

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