NAFA member Amanda Applegate, Partner at Soar Aviation Law, shares her latest article about how to avoid costly mistakes when selling an aircraft.
When an aircraft owner decides to sell their aircraft, timing and precision are critical. Failing to execute key preparatory steps at the appropriate stage of the transaction can lead to significant financial costs, delays, or legal defaults. This article outlines ten essential actions required to ensure a smooth and successful aircraft sale.
1. Aircraft Specification Sheet (Marketing Materials) When marketing the aircraft for sale, the specification sheet must be 100% accurate. Advertising an aircraft with certain options or equipment only to discover a misrepresentation during the sale process can lead to serious legal and financial implications, including seller default.
2. Loose Equipment List Establishing a definitive loose equipment list early in the process is vital. This equipment has value, and inventorying it in advance reduces the time required to finalize the sale agreement. Often, the loose equipment list is an exhibit to the sale agreement and failure to prepare it in advance can cause significant signing delays.
3. Aircraft Registration Number Many aircraft owners have aircraft registration numbers that are important and personal to them and want the registration number excluded from the aircraft sale. The best way to make sure a seller does not lose control of their registration number is to change it prior to closing. A seller can submit the request to change the registration number with the FAA, although it is important to keep in mind that it is currently taking over three months for the FAA registry to issue 8050-64 forms. Once the 8050-64 form is issued, the owner of the aircraft has up to 12 months to make the registration number change. The 8050-64 form can be obtained in advance of listing the aircraft for sale and the aircraft registration number can be changed during the inspection of the aircraft and/or during the repair of discrepancies. This allows sellers to maintain control of the registration number that is important to them. Failure to follow this process means that a seller must negotiate with the buyer to get the registration number back after the aircraft is sold, which sometimes can result in delays or even the loss of the registration number.
This article was originally published by Soar Aviation Law on August 18, 2026.