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Navigating Plane Ownership

As a person who wants to buy your dream airplane, would it be nice to have a little help in your corner? Searching for and selecting an airplane to buy can be a time consuming and confusing process, but now it doesn’t have to be. Below are a few steps.

  • Determine what kind of airplane you really need, and which features you want.
  • Begin your search, locate and identify an ideal prospect aircraft for purchase.
  • Evaluate the condition of prospect aircraft and educating you on what it will cost to own and operate an airplane.
  • Formulate a value of aircraft on the market and creating an effective proposal for purchase.
  • Review aircraft logs, arranging for a worthwhile pre-buy inspection, obtaining additional information.
  • Work with a lawyer to produce or review of all purchase and sale documents, and the FAA Bill of Sale and Registration Forms.
  • Select a ferry pilot to relocate your airplane to your home airport after the purchase is complete.
  • Insure your newly purchased airplane and employment of useful industry contacts to get the best policy for you.

Aircraft Purchase and Sale Agreements

Navigating the legal documents required when buying or selling an aircraft can seem daunting, especially when transactions cross state or international borders. Lustick, Kaiman & Madrone has many years of experience successfully leading clients through a wide range of aviation legal matters, including producing and reviewing:

  • Aircraft purchase and sales agreements.
  • Bills of sale; and contracts to transfer, trade, buy or sell aircraft.
  • Filings with the FAA to transfer aircraft registration after a sale or trade.
  • Aircraft rental and leaseback agreements.
  • Hangar and tie-down agreements.

The Aircraft Owners and Pilots Association Pilot Protection Plan makes aviation legal services and representation both accessible and affordable. AOPA Pilot Protection Services safeguards your pilot and medical certificates with two plans available at $49 and $99 annually.

Attorney Jeffrey Lustick is an accredited member of the AOPA Pilot Protection Plan and has served on legal providers’ panel for over nine years. AOPA members who have enrolled in the plan before their particular issue arises, can access Jeffrey Lustick’s representation at no cost or at a reduced fee depending on the issue. To enroll in the legal plan, visit the AOPA website.

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