michael Killacky
Pre-takeoff checklist
- Joined
- Feb 23, 2005
- Messages
- 150
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mikek
I'm a soon-to-be proud 1/3 owner of a 1962 Cessna 172B. The plane is in a partnership of 3. Their contract is almost identical to the sample on the AOPA site. One owner s selling due to health, and I'm buying his 1/3.
The question came up last night as to how to fill out the FAA Registration. Considering only one name is changing, do we fill out a new bill of sale with all 3 new names or do just the selling party and I fill it out and specify 1/3 share?
Originally, these 3 guys bought it together from a dealer and paid sales tax then. With only one name changing, we were all a little confused. It seems that if all 3 fill out the Bill of Sale, they would be liable for sales tax again.
Anybody with words of wisdom?
Mike
The question came up last night as to how to fill out the FAA Registration. Considering only one name is changing, do we fill out a new bill of sale with all 3 new names or do just the selling party and I fill it out and specify 1/3 share?
Originally, these 3 guys bought it together from a dealer and paid sales tax then. With only one name changing, we were all a little confused. It seems that if all 3 fill out the Bill of Sale, they would be liable for sales tax again.
Anybody with words of wisdom?
Mike