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EAA aircraft purchase and sale agreement

 
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dlm34077(at)gmail.com
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PostPosted: Wed Jan 31, 2024 5:32 pm    Post subject: EAA aircraft purchase and sale agreement Reply with quote
Has anyone had experience using the EAA supplied paperwork? Have there been updates? any successes or failures with it? I had a report from a friend who sold his aircraft using it. This is obviously in addition to the FAA paperwork.
David McNeill

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dmasys2(at)gmail.com
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PostPosted: Wed Jan 31, 2024 6:29 pm    Post subject: EAA aircraft purchase and sale agreement Reply with quote
Most EAA'ers find that the EAA agreement is too restrictive, and buyers choke at things like:

"Purchaser agrees that Purchaser shall not make any modification to Aircraft and agrees not to use or exchange any components or accessories of Aircraft without the written authorization and approval of the FAA, Aircraft kit manufacturer, Aircraft designer, or any successors or assigns thereof, whichever is required or necessary."

and

"Purchaser acknowledges that Purchaser has conducted an aircraft title search or has had the opportunity to conduct an aircraft title search and is satisfied with the status of the title of Aircraft." which gets morphed to something like "Seller represents the aircraft as being free and clear of all liens, claims and encumbrances."
Have sold an RV-7 and an RV-12 using the EAA language as a starting point, but in both cases the buyers wanted changes to the boilerplate before they would sign.  Most sellers and buyers think the "no modification" clause is pretty stupid for an experimental aircraft.
Just my $0.02
-Dan Masys
On Wed, Jan 31, 2024 at 5:36 PM dlm <dlm34077(at)gmail.com (dlm34077(at)gmail.com)> wrote:

Quote:
Has anyone had experience using the EAA supplied paperwork? Have there been updates? any successes or failures with it? I had a report from a friend who sold his aircraft using it. This is obviously in addition to the FAA paperwork.
David McNeill

Virus-free.www.avast.com[url=#m_-7373037081160966747_m_-6059478360291642124_DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2][/url]



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Vol88



Joined: 13 Jul 2019
Posts: 9
PostPosted: Thu Feb 01, 2024 8:38 am    Post subject: EAA aircraft purchase and sale agreement Reply with quote
I used either the EAA or AOPA templates (they are similar) to buy a Cirrus for a flying club and later to buy a complete RV-10 kit (including engine, prop, avionics, etc.) for myself. In both cases, I had to modify the template to fit the sale.
�
In the case of the flying club aircraft, I engaged a local aviation lawyer review it. That was my first time dealing with an aviation attorney and his combined expertise in aviation and IL state contract law was well worth the small fee we paid (under .5 AMU IIRC).
�
From: <owner-rv10-list-server(at)matronics.com> on behalf of dlm <dlm34077(at)gmail.com>
Reply-To: "rv10-list(at)matronics.com" <rv10-list(at)matronics.com>
Date: Wednesday, January 31, 2024 at 19:40
To: "rv10-list(at)matronics.com" <rv10-list(at)matronics.com>
Subject: RV10-List: EAA aircraft purchase and sale agreement

�

Has anyone had experience using the EAA supplied paperwork? Have there been updates? any successes�or failures with it?
�I had a report�from a friend who sold his�aircraft�using it. This is obviously in addition to the FAA paperwork.

�

David McNeill

�
[img]cid:~WRD0000.jpg[/img]
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�

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