Bill of Sale question

Am in the process of registering my RV6 and note that the registration app. must be accompanied by a bill of sale. After aquiring this form from Van's, I've noticed that the line reading "for and in consideration of $------" is left blank. Do I fill in an amount or just leave it blank? If I need an amount there, do I include everything purchased from Van's in the last 2 years? (nuts, bolts, instruments, prop?) I have heard that any snag in the registration process will extend the time quite a bit and I will be ready to fly in a few weeks. Any help will be appreciated.

i sell airplanes for a living, and on EVERY bill of sale i send to the faa, i put $1 in that space. it will not snag anything. the faa does not need to know how much you paid or sold for. the amount paid or sold should be included in a purchase agreement. that's what you use for filing with the state. they're the ones who want to know how much...they have to collect their taxes ya know.

just put $1. i've been doing this for 3 1/2 years, and my boss has been doing it for 35 years. that's all you need to put.

let me know if you have any questions. email me if need be.

since it's a first registration on a kit built, you may want to get with a tax advisor in your state (not for registering with the FAA, but the state). some states (not mine) don't collect tax on recreational vehicles. you won't have a purchase agreement, so just know what it's worth when you get to that point with the state.

question on these lines

I have a question, (FIXING TO REG WITH FAA) I bought my quick build kit untouched from a 2nd party and we both set me up with vans, but when I bought the kit the seller notorized a letter saying sold from him to me for one U.S. dollar and other considerations ? can I used this or do I need another bill of sale from vans ? I have all the other forms filled out with matching info.. and him as the seller of the kit.. any ideas on this ?


Danny..

here's what you can do-

a) get a new bill of sale (official FAA form) from the 2nd party you bought it from. the dates on the reg and bill of sale don't have to match, just as long as the bill of sale is on or before the date on the reg.

b) if your airplane will be registered in a corporation, or even a slightly different name than what you bought it in, you can get another bill of sale and "sell" it to yourself. that way the dates will correspond (or at least be closer), and the reg and bill of sale will match info.

i did this for the cherokee 180 that i used to own. we changed the name on the registration from a personal name to a corporation (for tax reasons), and we "sold" it to ourselves for $1 and sent both docs in at the same time with the same dates and matching info.

did that make sense? let me know if i can clearify any further.

chad

bill of sale

http://www.aeroprice.com/aerolibrary/aircraftbillofsale.htm

Should answer your questions.

Vern Little

Van's mails on Friday's

I just received mine (forgot to open it before heading into work allnite) in the mail.

Just FYI, IIRC-- Cynthia-- makes them all out on Thursday, up to about 11:00am. or 10:00am-- and then they go in the mail on Friday.

So, I thought I missed the deadline since I called in late thursday A.M. but I made it, and it took seven days to arrive in my CA mailbox.

FWIW