Aircraft Registration & Transactions

Light Business Airplane Buyer’s Guide

Provides a synopsis of the offerings currently available in the Light Business Airplane (LBA) category to assist companies in their purchase planning. Learn More.
Like-Kind Exchange

Under Section 1031 of the Internal Revenue Code, gains from the exchange of like-kind properties may be exempt from taxation. Learn More.
Cape Town Convention

The Cape Town International Registry was launched to protect financial interests in aircraft and engine transactions. If certain criteria are met, domestic and international aircraft and engine transactions are subject to the registry. Learn More.
U.S. Registered Foreign Civil Aircraft (Part 375)

Part 375 of the Department of Transportation regulations restricts the operation of foreign civil aircraft including both foreign registered aircraft and U.S. registered aircraft owned, controlled, or operated by non-U.S. citizens. Learn More
Aircraft Transactions Checklist

Serves as a means to organize an aircraft transaction process and provides a launching pad to numerous NBAA member resources related to the acquisition or sale of a business aircraft. Learn More

News Items

Aircraft Purchase Market Can Be Challenging, But Not Impossible: May 9, 2011
While the business aircraft market is seen to be slowly recovering, the difficulty of securing financing makes purchasing an aircraft today much more challenging than it was before September 2008. “The time required to close the financing is often much longer,” said Jeff Wieand of Boston Jet Search. “That means buyers who don’t want to pay cash have to begin arranging financing as soon – and maybe even before – they reach a deal on an aircraft.” Bankers recommend that buyers be prepared to make the case for how the aircraft will help them achieve their business goals. Read more.
FAA to Hold Public Meeting on Non-Citizen Owner Trusts: May 2, 2011
The FAA “is seeking the views from the public with respect to the use of owner trusts to register aircraft for the benefit of beneficiaries that are neither U.S. citizens nor resident aliens” and has scheduled a meeting in Oklahoma City, OK on Wednesday, June 1, 2011 to discuss this subject. A year ago, the FAA had announced a moratorium on such owner trusts, which would have resulted in a significant, harmful impact on the business aviation industry. NBAA vigorously opposed this policy change; the FAA withdrew it and has been reconsidering its owner trust policies since. NBAA will participate in this meeting and provide a report on the outcome. Learn More.
Exploring Treatment of Monetary Deposits in Aircraft Transactions: August 23, 2010
It is common for buyers of business aircraft to place "fully refundable" deposits in escrow when entering into a letter of intent or purchase agreement. A new article, provided by NBAA Tax Committee Member Keith Swirsky, addresses issues concerning monetary deposits, such as "back-to-back" transactions and whether a seller can obtain forfeiture of a deposit in such transactions; the typical approach of Oklahoma City title and escrow companies in the event of a dispute concerning the deposit; and best practices. View the article.
New, Onerous FAA Aircraft Registration Regulations Published: July 19, 2010
The Federal Aviation Administration (FAA) had estimated that approximately one third of aircraft registrations are no longer valid. To rectify this, the FAA published new regulations regarding aircraft registration. Over a three year period, FAA will terminate the N number registrations of all aircraft registered before October 1, 2010, and will require the re-registration of each aircraft. Aircraft registrations will be valid for three years and registration certificates will include the expiration date. The FAA will cancel the N-numbers of aircraft that are not re-registered or renewed. Learn More.
NBAA Urges Owners to Exercise Caution with FAA Registry Priority Requests: August 4, 2006
Aircraft owners filing an initial N number registration or change to the aircraft registration, when requesting priority registrations from the FAA, must declare an international flight and provide proof of the upcoming flightt. Under new FAA policy, effective August 1, 2006, all Declarations of international flights will be compared with actual flights. Review the FAA guidance.