Purchasing kit from a builder - process?

[Natti Notti]

Hi ALL!

If things work well I will be the owner and builder of the partially built Lancair 360. However this is a problem: I never purchased kit before. What this process looks like from legal standpoint so both seller and buyer are protected? Do I need to involve lawyer or notary? What type of contract do we sign? When do I exchange check for a kit? Any online resources would be helpful!

Thank you all!
Nat.

 

[tsts4]

At the minimum you want a bill of sale. Also see if the seller has an aircraft bill of sale AC Form 8050-2 , https://www.faa.gov/forms/index.cfm/go/document.information/documentID/186163 from Lancair. If not contact Lancair and see if they can provide you one. The reason is you'll need it once you go to register it: https://www.faa.gov/licenses_certificates/aircraft_certification/aircraft_registry/

Also make sure you get as much of the original kit paperwork as possible to include plans, manuals, builders log, etc.

 

[Capt. Geoffrey Thorpe]

https://www.faa.gov/documentLibrary/media/Advisory_Circular/AC_20-27G.pdf Seriously.

"Buying an Aircraft Built From a Partially Completed Aircraft Kit. If you buy an aircraft built from a partially completed kit, you should get all fabrication and assembly records, such as receipts for materials, the builder’s log, and aircraft, engine, propeller logbooks, and any other documentation available (see paragraph 7h) from the previous owner. You should add the construction efforts of the previous amateur builders to your builder’s log to show the construction history of the kit. This information will help us to determine whether your completed aircraft is eligible for amateur-built certification."

"If you are not the original purchaser of an uncompleted kit, provide AFS-750 traceability from the kit manufacturer through the previous builder(s) to yourself. "

 

[Natti Notti]

Thank you @tsts4 , @Capt. Geoffrey Thorpe. This is super helpful!