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Civil or general aviation is a popular pastime in the United States, both for pleasure and business. For those who are interested in FAA registration for a privately-owned airplane, here are some answers on how trusts work. Who is eligible to register an aircraft in the US? An aircraft may be eligible for FAA registration if it is not registered in another country. To qualify for registration, the aircraft owner must meet these requirements. The aircraft owner must be: An individual who is a US citizen. A partnership where each partner is a...
The strength of your Owner Trustee registration with the FAA rests upon the trust documents that create the legal relationship.  The Owner Trust relationship is created by the execution of several documents including Affidavits and Certificates, a Trust Agreement, an Accession Agreement, as well as an Aircraft Dry Lease Agreement and Operating Agreement.  Other documents are also necessary to fully establish the Owner Trustee relationship.  AGC’s trust documents have been carefully vetted to make sure they comply with the applicable...
Just because the Company has the name “Trust” or “Trustee” in it, doesn’t mean they have authority to act as a Trustee. It can be confusing when searching the market for a Trustee provider, as the cost of Trust services vary widely. Don’t be fooled by lower cost alone.  There is more to providing trust services than many people know. FAA Does not vet Trustees The hard truth is that many Trust Companies offering trust services are not legally authorized to do so.  The FAA DOES NOT VET the entities applying for registration as a...