What are the legal requirements for aircraft ownership transfer?
In South Dakota, the legal requirements for aircraft ownership transfer include submitting a bill of sale to the Federal Aviation Administration (FAA) as well as registering the aircraft with the South Dakota Department of Transportation. The bill of sale, or the Aviation Bill of Sale, is a document that must be submitted to the FAA and must include information such as the name and address of both the buyer and the seller, the aircraft’s registration number, its serial number, and the aircraft’s make and model. This document should also include a written agreement between both the buyer and the seller regarding the sale of the aircraft, as well as the aircraft’s purchase price. In addition, any new aircraft must be registered with the South Dakota Department of Transportation within 30 days of purchase. This registration should also include information such as the serial number, the model of the aircraft, the name and address of the new owner, as well as the aircraft’s registration and certificate number. Furthermore, when the aircraft is registered, the new owner must also submit a recorded aircraft title to the South Dakota Department of Transportation in order to show the transfer of ownership. The recorded aircraft title must include the name and address of the new owner, the aircraft’s certificate and registration number, as well as the date of the sale. In conclusion, transferring the ownership of aircraft in South Dakota requires submitting a bill of sale to the FAA as well as registering the aircraft with the South Dakota Department Transportation and submitting a recorded aircraft title. Following these legal requirements will ensure a successful transition of ownership.
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