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Paper Work for Selling

Larry

Active Member
What type of paper work is required for selling an VANs RV? I know that the FAA needs to be informed and VANs wants to be informed. Is there any one else? I guess also the state tax board. Is there a link to some guidance in insuring a proper and fair way to transfer a plane from one to another? I would like any suggestions on how to do it and protect the interested of both sides.

For those who have sold your "baby" do you have any suggestions? What is the best way to transfer funds especially since the one buying the plane may want to fly it back on the same day far far away. Safety, insurance and financial concerns need to be addressed.

Appreciate any guidance from those that have sold before.
 
a wire transfer to your bank with verification might be the best way to get the cash. :)
 
a wire transfer to your bank with verification might be the best way to get the cash. :)

I used a wire transfer when I sold my RV-10. I verified the funds transfer was complete before we signed the paperwork. I used the FAA Bill of Sale form and for whatever it may be worth, required the buyer to sign and notarize a release of liability statement.
 
Don't forget to remind or to do online at close of sale to have the new owner register the ELT beacon with NOAA in his name.
 
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Great Thread!

Awesome questions!

Presently in the process of buying a RV-6 located very far away. Great advice for a buyer as well!

Mike Bauer
 
paperwork

The only required paperwork is the FAA Bill of Sale. Any other paperwork might be required because of the finance company or the State you reside in. Vans might want you to tell them you bought/sold it but that is not required.

Vans will also want you to sign a release before they will change the ownership in their files. I have not yet seen a reason to sign that so have not. Piper did not require that and neither did Cessna when I bought one of those.

PA tax dept will require a separate Bill of Sale, not the FAA form, but they do not have a form to use and can give no guidance on what is required. They just try to intimidate you.

Some States do not tax (sales tax) aircraft parts and maintenance but do tax aircraft sales. Sometimes you can purchase engines and avionics separately from the aircraft.

Your mileage may vary.
 
how to do it?

I am also curious....... if there even IS a 'right' way to do it.

some places will want sales tax on the transaction, but what value?

If you show them a bill for $30,000 of parts from Van's, and the rest is your labour, how can that be taxable? ( yeah, it's a flying plane now, not a kit). But that's one argument, to be sure.

I once bought a car without an engine or trans, but it had a VIN # and former registration, so the tax guy asked why I was declaring only 1/4 market value. It was on a trailer outside.
a 'project', not a driver.

so......take the prop off a plane, what do you have? remove the engine....obviously not flyable, but could still be called an airplane.

well, let us know what you choose to do! good luck!
 
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