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neil459(at)btinternet.com
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 Posted: Sun Dec 13, 2009 10:39 pm Post subject: Sale Document |
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Listers
I’m in the process of selling my RV9A to make way for a RV7 which is almost ready for test flight. Would anyone have wording for a sale agreement that covers restricting ongoing liability. I know that in the final event it would be down to the legal system but least it sets the basis of understanding between the buyer/seller. Any help would be appreciated.
Neil Henderson
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mike109g6(at)insideconnec
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| Posted: Sun Dec 13, 2009 11:54 pm Post subject: Sale Document |
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Neil,
Try AOPA and EAA online for sample sales agreements.
Mike
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garrys(at)tampabay.rr.com
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| Posted: Mon Dec 14, 2009 6:56 am Post subject: Sale Document |
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Both EAA and AOPA have "forms" for sales agreements. I'd go with the EAA version.
Garry Stout
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dcw(at)mnwing.org
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| Posted: Mon Dec 14, 2009 7:35 am Post subject: Sale Document |
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I have used several forms for the sale of two of my RVs and it seems the EAA form is the most comprehensive.
Doug
Garry wrote: [quote] (at)page Section1 {size: 595.3pt 841.9pt; margin: 72.0pt 90.0pt 72.0pt 90.0pt; } P.MsoNormal { FONT-SIZE: 12pt; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman" } LI.MsoNormal { FONT-SIZE: 12pt; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman" } DIV.MsoNormal { FONT-SIZE: 12pt; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman" } A:link { COLOR: blue; TEXT-DECORATION: underline } SPAN.MsoHyperlink { COLOR: blue; TEXT-DECORATION: underline } A:visited { COLOR: purple; TEXT-DECORATION: underline } SPAN.MsoHyperlinkFollowed { COLOR: purple; TEXT-DECORATION: underline } SPAN.EmailStyle17 { COLOR: windowtext; FONT-FAMILY: Arial; mso-style-type: personal-compose } DIV.Section1 { page: Section1 } Both EAA and AOPA have "forms" for sales agreements. I'd go with the EAA version.
Garry Stout
| Quote: | ----- Original Message -----
From: NEIL HENDERSON (neil459(at)btinternet.com)
To: rv-list(at)matronics.com (rv-list(at)matronics.com)
Sent: Monday, December 14, 2009 1:26 AM
Subject: Sale Document
Listers
I’m in the process of selling my RV9A to make way for a RV7 which is almost ready for test flight. Would anyone have wording for a sale agreement that covers restricting ongoing liability. I know that in the final event it would be down to the legal system but least it sets the basis of understanding between the buyer/seller. Any help would be appreciated.
Neil Henderson
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Paul Valovich
Joined: 11 Jan 2006
Posts: 75
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| Posted: Mon Dec 14, 2009 7:37 am Post subject: Sale Document |
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This example was posted a few years ago:
EXPERIMENTAL-AMATEUR BUILT AIRCRAFT SALES AGREEMENT
THIS FORM SUPPLEMENTS, BUT DOES NOT REPLACE, FAA AC FORM 8050-2.
THE FAA REGISTRATION-NUMBER OF THIS AIRCRAFT IS NXXXX. THIS AIRCRAFT WAS CONSTRUCTED IN ACCORDANCE WITH PLANS SERIAL NUMBER XXXXX, AND IS A FACSIMILE OF AN AIRCRAF KNOWN AS AN XX-XX. THE AIRCRAFT IS DESCRIBED IN GREATER DETAIL ON SHEET xx OF THIS AGREEMENT.
The experimental-amateur built aircraft being sold is not designed and/or built to meet any defined standards of airworthiness as are Standard Aircraft.
. This aircraft does not have an FAA Form 317 Statement of Conformity on file, as there are no FAA approved data with which to conform. In the case experimental-amateur built aircraft, the registered owner(s) is/are the experimenter(s). Most parts of this aircraft were not built in permanent jigs and, as such, may not be directly interchangeable with like parts on other aircraft of the same facsimile. The original builder of this experimental aircraft may possess a repairmans certificate for purposes of maintaining and performing condition inspections on this aircraft only, although he/she may not be a professional mechanic nor possess an FAA A&P license. FAA records list the registered owner(s) as the manufacturer of an experimental-amateur built aircraft as the manufacturer and, as manufacturer, the registered owner(s)is/are free to make any modifications or changes to the design as they see fit, although notification of major alterations have and must be made to the FAA.
This aircraft is an example of the builder/owner creative ability and was built for their education and recreation. Upon sale, the newly registered owner of this experimental-amateur built aircraft in fact will be considered its new manufacturer. As of the date of sale, the new owner becomes responsible for its aerodynamic and structural function and/or concept. The new owner is responsible for the performance, fit and/or purpose of every part/piece on the aircraft. No warranty of any kind, either expressed or implied, is made to the Purchaser or anyone else as to the merchantability or airworthiness of NXXXX.
This experimental-amateur built aircraft is sold on an AS IS, WHERE-IS and WITH=20 ALL FAULTS PRESENTLY INCORPORATED basis. Flying poses certain inherent risks that can result in serious injury or death. Any person who pilots or acts as passenger in this experimental aircraft does so at his/her own risk. Because of the sale hereof and in receipt of other good and valuable consideration, the Purchaser/new Owner hereby Waive and Releases the seller(s) from any and all Demands, Claims of every kind, including but not limited to, Liability, Breach of Warranty or Negligence, which the Purchaser, owner , pilot, and/or passenger in this experimental aircraft may have. This Release and Waiver is binding on all Heirs, Personal Representatives and Assigns of the Purchaser, Subsequent Owners, Pilots and Passengers.
As Purchaser/new Owner, I accept the terms of this Sales Agreement for the experimental-amateur built aircraft identified above and agree to be bound by the above stipulations. I agree that any subsequent sale of this aircraft will be made with the same disclosures, agreements and assurances listed above as a minimum.
Name of Purchaser/new Owner:
Name of Purchaser/new Co-Owner:
Purchasers Address:
Co-Owners Address:
Signature of Purchaser:
Signature of Co-Owner:
As Seller(s), on this XXth day of Month, XXXX in the County of XXXX, State of XX, I/We do hereby sell, grant, transfer, release and deliver all rights, title, interest, possession and responsibility for/to such experimental aircraft to the above Purchaser and acknowledge the receipt of a Cashiers Check in the amount of $XXXX.00, payable to the Seller. No sales tax was collected pursuant to State Law and this becomes the responsibility of the Purchaser.
Total Hours Engine and Airframe at time of sale XXX.X
Name of Seller/Owner:
Name of Seller/Co-Owner:
Seller/Owner’s Address:
Seller/Co-Owners Address:
Signature of Seller/Owner:
Signature of Co-Owner:
Witness:
Signature of Witness:
This Bill of Sale is to be signed by all parties. The FAA dropped the requirement for notarizing in 1972. Seller retains the original and a copy is given to the Purchaser/new Owner. Seller sends a copy of the original document to the FAA along with Cancellation of Registration FAA AC FORM 8050-73.
[quote][b]
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