What legal restrictions apply to the sale of aircraft?

In South Carolina, the legal restrictions that apply to the sale of aircraft are largely contained within the state’s Aircraft Dealer’s Act. All dealers of aircraft in the state must register with the South Carolina Department of Revenue and be in compliance with the regulations specified in the Act. The Act states that upon reaching a deal for the sale of an aircraft, the seller must provide a title of ownership to the buyer within 20 days of the sale. This title must include the name of the seller, make and model of the aircraft, and the aircraft’s serial number. Additionally, an Aircraft Dealer’s Bill of Sale must be completed before the sale is finalized. The Aircraft Dealer’s Act also contains restrictions on the use of the aircraft. Aircraft can only be used for recreational or commercial purposes and are not allowed to be used for illegal activities. Aircraft owners are also responsible for submitting an Annual Aircraft Report to the South Carolina Department of Revenue, which includes pertinent information about the aircraft, such as documentation of any repairs or alterations. In order to sell aircraft in South Carolina, the seller must also be sure to adhere to all local and federal regulations related to aircraft sales. In conclusion, the sale of aircraft in South Carolina is subject to specific restrictions and regulations that must be followed in order to ensure the sale is legal. Sellers must provide a title of ownership and complete the Aircraft Dealer’s Bill of Sale for each individual sale. Additionally, aircraft are only allowed to be used for recreational or commercial purposes, and annual reports must be submitted to the Department of Revenue. All of these steps must be taken to ensure that any sale of aircraft is in accordance with South Carolina law.

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