re-registering/bill of sale for new plane?

Jeanie

Jeanie

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Alpine, TX
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Jeanie
Hi Ya'll,

Well, the time has come for me to be purchasing the super decathlon. :goofy:

Any suggestions for a bill of sale form? And, where do I get the form to re-register the plane in my name?

Thanks,
Jean
 
You can get the bill of sale form from the FAA.gov website. The registration is a 3-part form of which the third (pink) copy must be kept in the plane until the hard copy is received from the FAA. If you can't find one out there in the sticks (FSDO or airplane broker/dealer) PM and I'll send you one by mail.

Jeanie said:
Hi Ya'll,

Well, the time has come for me to be purchasing the super decathlon. :goofy:

Any suggestions for a bill of sale form? And, where do I get the form to re-register the plane in my name?

Thanks,
Jean
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I should have some, I will chk tomorrow Jeannie.
Someone around your airport likely has one too
 
I have some of both forms,,,,, with your address they are in the mail.

PM me......


ask your A&P-IA they should have some too
 
Thanks Everybody ! I'll check here and see if I can get the triplicate before I ask for anyone to mail one.
 
If you elect LLC ownership, be aware that the FAA will require documents in support of the entity.
 
Ron Levy said:
Will you be co-owners or partners? Do you know the implications of each?
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Hadn't thought about it really. Since we're married I just assumed we would be co-owners. That on the registration it would say and/or for the purposes of joint use and inheritance if one of us should die.

Fill me in on what I've obviously missed...... :confused:
 
Jeanie said:
Hadn't thought about it really. Since we're married I just assumed we would be co-owners. That on the registration it would say and/or for the purposes of joint use and inheritance if one of us should die.

Fill me in on what I've obviously missed...... :confused:
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Partnership give you what you want, but co-ownership does not. With co-owners, all owners must sign the paper for any financial transation. If one co-owner dies, you have to get the executor of the estate involved to sell the plane (BTDT). Check with an attorney in your state for additional implications of state law on the two forms of shared ownership, including inheritance.
 
Don't forget the sales tax issue, there should be a thread around here on that....

-in essence, avoid paying ST if buying as an individual from an individual vs person to or from a business (and this is allowed for 2? 3? sales per year I believe).

Oh. BTW. Thanks to Troy for my new "Help Let Me Out of Spike's Airplane" avatar! <----------
<----------
 
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Let'sgoflying! said:
Don't forget the sales tax issue, there should be a thread around here on that....

-in essence, avoid paying ST if buying as an individual from an individual vs person to or from a business (and this is allowed for 2? 3? sales per year I believe).
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As that's purely a state law issue, it's another reason to talk this over with an attorney in your state. What happens where LGF lives may not be the same as where the OP or you live.
 
Ron Levy said:
As that's purely a state law issue, it's another reason to talk this over with an attorney in your state. What happens where LGF lives may not be the same as where the OP or you live.
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Wa. Is a community property state, What's mine is her's and what is her's is her's too.

With the FAA and bills of sale, have a will, it is easy after that.
 
Tom-D said:
Wa. Is a community property state, What's mine is her's and what is her's is her's too.

With the FAA and bills of sale, have a will, it is easy after that.
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Texas is, too, to the best of my knowledge, and Jeanie's here.
 
Yep, what's ours is ours and my will is in order.
Thanks, Dave on the sales tax issue - luckily it will be a non-issue....

The current owner of the plane, Sam, is flying to Alpine tomorrow from Dona Ana (little aiport just west of El Paso) to pick me up and we fly back to DA - I'll spend the night and then fly the plane back here on Saturday - leaving as close to sunrise as I can stand - both to have it "cooler" for the engine and also to avoid the kick A** winds and hail stuff we've been having nearly every afternoon.....

Pictures will be posted soonish :D
 
Capt. Geoffrey Thorpe said:
As mentioned, the bill of sale (8050-2) can be found on line here. The registration form (8050-1) has to be obtained as a multi-part form. No copies. See also http://www.faa.gov/library/manuals/aviation/media/faa-h-8083-19A.pdf

The AOPA has a sample purchase agreement you might want to plagiarize.
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I've seen cases involving problems after plagiarizing the AOPA sample purchase agreement. Not AOPA's fault (although there are limitations to the document) - the plagiarists decided what parts were important and what parts were not, ultimately screwing one of the parties to the deal when a problem arose.
 
Tom-D said:
Wa. Is a community property state, What's mine is her's and what is her's is her's too.

With the FAA and bills of sale, have a will, it is easy after that.
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Your wife been talking to my wife? :D She regards it as an infinite series. Half of ours is her's. Then she gets half of mine. And then half of that, and so on. :D
 
There's more to the TX occasional sales exemption than that, and it can be a bit tricky, but obtaining a statement from the seller is an important part of the purchase documentation. From Jeanie's post I can't tell if she thinks buying it out of state will eliminate the tax problem, but I can assure her that it does not since the state will impose use tax at the same rate for out-of-state purchases that aren't protected by the occasional sale exemption.

You may not hear from the state for a couple of years, but it's now fair to assume that every airplane transaction will be examined and questioned by the new (~two years old) task force established for that specific purpose. Although it's not a guarantee that the exemption will stand, the form executed by the seller is your best proof, and you want to have it in the file when the time comes. You don't file it with the state, it just lives in your file cabinet until they come knocking.

The Statement of Occasional Sale form is available on the comptroller's web site.
Let'sgoflying! said:
Don't forget the sales tax issue, there should be a thread around here on that....

-in essence, avoid paying ST if buying as an individual from an individual vs person to or from a business (and this is allowed for 2? 3? sales per year I believe).

Oh. BTW. Thanks to Troy for my new "Help Let Me Out of Spike's Airplane" avatar! <----------
<----------
Click to expand...
 
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but I can assure her that it does not since the state will impose use tax at the same rate for out-of-state purchases that aren't protected by the occasional sale exemption.

You may not hear from the state for a couple of years, but it's now fair to assume that every airplane transaction will be examined and questioned by the new (~two years old) task force established for that specific purpose. Although it's not a guarantee that the exemption will stand, the form executed by the seller is your best proof, and you want to have it in the file when the time comes. You don't file it with the state, it just lives in your file cabinet until they come knocking.

~~~~~~~ Ok. so a purchase between individuals can be taxed in Texas? basicly the transfer of the aircraft is between spouses who are considered co-owners to spouses that are co-owners - there is not business involved just us folks. I'll keep a copy of the current registration for the plane from the FAA Registry and a copy of the bill of sale and a copy of the new registration .... in a secure place
 
The answer is yes it can, it has been before and it will be again. "Just us folks" isn't an exemption under state law, because some "just us folks" don't qualify. The exemptions are different in each state, and TX doesn't differentiate between individuals and other entities. Some businesses are exempt, some aren't. Some individuals are not exempt, some are.

And when you're examined for sales tax purposes (and with the new task force, you will be) the burden of proof is on you. Get a copy of the TX statement of occasional sale from the TX comptroller's website and read it, then have the seller execute it. Nothing else matters when you're trying to prove your purchase was exempt from sales/use tax.



Jeanie said:
but I can assure her that it does not since the state will impose use tax at the same rate for out-of-state purchases that aren't protected by the occasional sale exemption.

You may not hear from the state for a couple of years, but it's now fair to assume that every airplane transaction will be examined and questioned by the new (~two years old) task force established for that specific purpose. Although it's not a guarantee that the exemption will stand, the form executed by the seller is your best proof, and you want to have it in the file when the time comes. You don't file it with the state, it just lives in your file cabinet until they come knocking.

~~~~~~~ Ok. so a purchase between individuals can be taxed in Texas? basicly the transfer of the aircraft is between spouses who are considered co-owners to spouses that are co-owners - there is not business involved just us folks. I'll keep a copy of the current registration for the plane from the FAA Registry and a copy of the bill of sale and a copy of the new registration .... in a secure place
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Jeanie:

1. Form you need to get executed by the Seller: http://www.window.state.tx.us/taxinfo/taxforms/01-917.pdf

2. The rule defining the legal standard: http://info.sos.state.tx.us/pls/pub/readtac$ext.TacPage?sl=R&app=9&p_dir=&p_rloc=&p_tloc=&p_ploc=&pg=1&p_tac=&ti=34&pt=1&ch=3&rl=316

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Get the form executed immediately! You may never need it, but if you ever need it, you'll need it pronto.
 
FYI, Spike, my TX-based clients who bought planes 2-3 years ago are now routinely being examined by the sales tax task force. FYI, those who couldn't qualify for the occasional sale and tried to use the dry-lease under the sale-for-resale exemption are being denied, if the state determines that the lease lacks economic viability insofar as opportunity for profit is concerned.

I would probably challenge their methodology on a big airplane, but it's not practical on a little one.

SCCutler said:
Jeanie:

1. Form you need to get executed by the Seller: http://www.window.state.tx.us/taxinfo/taxforms/01-917.pdf

2. The rule defining the legal standard: http://info.sos.state.tx.us/pls/pub/readtac$ext.TacPage?sl=R&app=9&p_dir=&p_rloc=&p_tloc=&p_ploc=&pg=1&p_tac=&ti=34&pt=1&ch=3&rl=316

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Get the form executed immediately! You may never need it, but if you ever need it, you'll need it pronto.
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Oh Brother. I'll download the forms and have Sam fill them out. If I have specific questions after reading thru it I'll probably PM you and ask.
Thanks again
 
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