AIRCRAFT SALE

Introducing our Aviation Law Services

 

 

In recognition of his expertise, Ian Gee is recommended in the Legal 500 for his aviation practice.

Aircraft Sale Solicitors

I want to sell my aircraft. Why do I need to employ a Solicitor?

In the same way that you would employ a reputable solicitor to put together contracts and carry out searches when selling your home, the sale of your aircraft should be carried out with the same due diligence.

The process of selling or purchasing aircraft is a complex process, often involving large amounts of money, detailed contracts and many legal rules and regulations that you must comply with. The best way to make sure you are financially and personally protected is to employ a suitably qualified and experienced Aviation Solicitor.

Your Aviation Solicitor will be responsible for making sure the sale of your aircraft takes place as quickly and smoothly as possible and will put together a legal contract which fully details the transaction and removes any ambiguity, giving you peace of mind.

 

What information do I need to include in my Aircraft Sales Agreement?

A qualified Aviation Solicitor will put together an Agreement for you and speak to you to discuss the different elements that will need to be included.

The information included in the contract will very much depend on the specifics of the aircraft and your circumstances but here is a list of commonly included information:

The Purchaser

  • Is this an individual or a Company?
  • If a Company, does the signatory have the authority to bind it?
  • What authority is legally needed?
  •  If a Contract is entered into by an individual, what if they later want to take the Bill of Sale in the name of a Company?
  • Can the Purchaser make you sell to some completely different person or Company?
  • Can the documents be entered into by fax or other electronic means?

The Aircraft

  • A list of equipment and documents that are included in the price should be detailed fully.
  • Information about where the handover is to take place and by what time
  • Is the Purchaser entitled to have the Aircraft surveyed and to test fly it?
  • What happens if damage occurs to the aircraft during the survey or test flight?

The Deposit

  • How much deposit should be paid?
  • Can you forfeit the deposit if the Purchaser does not complete the acquisition?
  • What happens if the Purchaser pulls out of the sale?

The Price

  • What currency is to be paid?
  • Can the Purchaser make any deduction?
  • Is VAT applicable?
  • Who will pay the duties, levies, etc.

How is payment to be made?

  • How can you be sure the payment is cleared by your Bank before releasing the aircraft?
  • What conditions do you wish to impose?

What if the Purchaser does not take delivery / pay the balance on the agreed date?

  • Are you entitled to interest and recompense for other expenses if you agree to delay?
  • Are you entitled to terminate the Agreement?

 


JWK can help you. Get in touch today

Do you have a question or would you simply like some more information? You can contact JWK Solicitors on 01524 598300 between 9am to 5pm every weekday or use our enquiry form.