Bill of Sale for selling experimental a/c

[hot water harry]

Does anyone have a source for a good bill of sale for an experimental aircraft?

I know the best way is to build it as an LLC but this is years late for that.

[Hal Bryan]

Hi Harry -

We have a standard sales agreement that we share with our members, and I've attached it to this message. I'm posting it here subject to the following substantial legalese from our download site:

As a service to EAA members selling their Experimental Amateur-Built aircraft, EAA is providing this sample EXPERIMENTAL AMATEUR-BUILT AIRCRAFT PURCHASE AND SALE AGREEMENT WITH WAIVER AND RELEASE OF LIABILITY. It was developed by Pat Phillips, a member of EAA’s Legal Advisory Council, and he has used it over many years with his clients. This type of hold harmless agreement may not be recognized in some states or courts and it is not effective against third parties.


This sample agreement is a good starting point for you and your attorney to draft an agreement to cover your specific situation. It should help prevent your attorney from having to “reinvent the wheel” and charging you for it! We stress that you should not simply “fill in the blanks”. It should NOT be used without the assistance of a qualified attorney. The sale of an aircraft that you built carries with it enough potential risks that the use of an attorney is warranted. The proper use of a waiver/release may help you better limit some of your exposure in the event of an accident.


Your use of this sample agreement is subject to the following Terms of Use. Your agreement to these terms is consideration for EAA's provision of the service to you. If you do not agree then do not use the agreement.


LIMITATION OF LIABILITY AND INDEMNIFICATION: THIS SAMPLE AGREEMENT IS PROVIDED TO ASSIST YOUR ATTORNEY WITH DRAFTING AN AGREEMENT FOR SELLING AN EXPERIMENTAL AMATEUR BUILT AIRCRAFT. THE EXPERIMENTAL AIRCRAFT ASSOCIATION (EAA) AND ITS EMPLOYEES, AGENTS, OR ANY OF ITS AFFILIATED OR RELATED ORGANIZATIONS DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS OF ANY KIND OR NATURE WHATSOEVER OF ITS MERCHANTANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS OF ANY KIND OR NATURE WHATSOEVER THAT THE VERBIAGE OR INTENDED OR EXPECTED USE OF ANY PART OF THE SAMPLE AGREEMENT WILL BE EFFECTIVE IN PROTECTING YOU FROM LEGAL LIABILITY. NEITHER THE EAA NOR ANY OF ITS AFFILIATED OR RELATED ORGANIZATIONS SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES AS A RESULT OF THE USE OF THE COPY OR ANY PART OF THE COPY PROVIDED THROUGH THIS MEDIUM OR ANY OTHER MEDIUM OR SERVICE. THIS DISCLAIMER INCLUDES, BUT IS NOT LIMITED TO, DEATH, INJURY OR FAILED EXPECTATION. YOU SPECIFICALLY AGREE, ON YOUR BEHALF AND ON BEHALF OF YOUR HEIRS, EXECUTORS AND ASSIGNS, NOT TO BRING ANY LEGAL ACTION IN ANY FEDERAL OR STATE COURT OR OTHER COURT OF LAW OR EQUITY AGAINST THE EAA OR ANY OF ITS AFFILIATED OR RELATED ORGANIZATIONS UNDER ANY THEORY OF LIABILITY AND FURTHER AGREE TO INDEMNIFY AND HOLD EAA AND ITS AFFILIATED OR RELATED ORGANIZATIONS HARMLESS FROM YOUR BREACH OF THESE TERMS.

[Tom Downey]

Bill of Sale ?

Doesn't the 8050-2 work on EXP aircraft.

How else would you change ownership in the FAA data base?

[Mike M]

Does anyone have a source for a good bill of sale for an experimental aircraft? I know the best way is to build it as an LLC but this is years late for that.

source for a bill of sale? how about the friendly aviation advisors?

faa.gov/search/?omni=MainSearch&q=Form+8050-2%2C+Aircraft+Bill+of+Sale

follow the link, fill it out on line, save, print, sign, mail. presto. bill of sale.

[FlyingRon]

The bill of sale had better be the 8050-2. What Hal posted is more of a purchase contract.

[Chad Jensen]

Attached is the current 8050-2.

What Hal posted should also be included, and if you happen to be using an escrow agency, it will be required. Make sure they match too...

ac8050-2.pdf

[Hal Bryan]

Thanks for stepping in to clarify things, Chad!

[FunInAviation]

Hal,

What about the sale of an unfinished aircraft? (ie not registered and only 75% completed - no engine). Can that form be altered, or is another?

[1600vw]

Hal,

What about the sale of an unfinished aircraft? (ie not registered and only 75% completed - no engine). Can that form be altered, or is another?

Yes this forum can be altered and here is how I know this.....

I just send in one of these forums and at the top where it says Airplane I marked through this and wrote in parts. I purchased a completed airplane that had an current AW certificate and N number but was not in a state of airworthy. Because of this to me I purchased a bunch of parts. To the FAA I purchased a box of parts and they Destroyed my brand new-to-me airplane.

The good people in OK City are being really helpful but, because I did this this paper work now goes to Texas and a group will look at the documents I sent and make sure they match the documents submitted by the original builder. Hoops to jump through.

So yes you can alter this forum 8050-2 and be careful that you get it right. One nice thing I mark through this in a different ink then the man I purchased it from signed this forum and they can see this is my hand writing, but still a hassle.

[martymayes]

If I was selling a partially completed homebuilt that has never been registered, I'd simply write out a generic bill of sale with a description of what is being sold. FAA Form 8050-2 is the instrument for transferring ownership of registered aircraft. They can't record an ownership transfer for something that is not in the database.

On an unrelated note, I'd provide the buyer with a written statement saying I fabricated and assembled the described item(s) for education and/or recreation.