WebAs far as selling an experimental goes I agree that a good solid contract written by an attorney would remove all liability from the seller and or builder, just make sure that it states something about the original builder not being liable for ANYTHING that may happen with the aircraft in the hands of the buyer or ANY FUTURE BUYERS. WebAircraft Bill of Sale (AC Form 8050-2) Sample Aircraft Purchase/Sales Agreement Aircraft Registration (AC Form 8050-1) - The Aircraft Registration Application, AC Form 8050-1, is now available for download from FAA. Application for …
Experimental Aircraft Bill of Sale & Release of Liability
WebNov 1, 2024 · Read them completely. By signing these documents, you may be agreeing to terms that could affect your legal rights in the event of an accident, compromise insurance coverage, and even make you liable for the seller’s legal bills. Aopa Aircraft Owners & Pilots Association Find it free on the store Get the appGet the app Get extra lift from AOPA. WebAs far as liability when selling, I would think if you had a written contract to the buyer, as is where is, you would be okay and not worry about being sued. basel palermo
Builder Liability and You
WebIf you are selling an experimental aircraft, there is always a question of liability. Are you liable as the manufacturer if someone gets seriously injured or killed in the future. There may be but I am not a lawyer and I don’t play … WebPURCHASE AGREEMENT and LIABILITY RELEASE Aircraft Flying is an activity that is potentially dangerous and can result in serious injury or death. EACH PILOT OR PARTICIPANT, REGARDLESS OF EXPERIENCE, ASSUMES TOTAL RESPONSIBILITY FOR HIS OR HER OWN ACTIONS AND SAFETY. I _____(BUYER) propose to purchase an aircraft … WebFor some homebuilt aircraft models, I see the going market rate for a finished aircraft at 20-35% higher than the cost to build (Sling 4 and Sling TSi are both examples). Now, on some models, considering the associated build time, this can work out to be a profit of $40-$60 an hour in terms of build time for the builder after the sale. basel papenburg