Posts Tagged ‘private airplanes’
Global Aircraft Maintenance Requirements
The goal of any good government is to protect the population. Most safety and maintenance requirements that governments create, therefore, are designed to protect the masses. Furthermore, many registries around the globe have limited financial resources and limited manpower. For these reasons, safety and maintenance requirements tend to focus on the aircraft that transport the…
Read MoreReasons to use a Short-Term Trust
There’s no reason to try to “get around” to registering an aircraft in trust. Owners sometimes think there are reasons, either financial or personal, why they shouldn’t set up a short-term trust for their newly-purchased aircraft. Let’s look at one scenario to understand the severity of what might happen: A foreign buyer needed to register…
Read MoreThe Pilot Chronicles of: Wilhelm Heinz
Our customers often share their flying experiences with us. Wilhelm Heinz is one such customer, who flies both professionally and for pleasure. This month get to know Wilhelm and his love for flying. 1. Tell us about your aircraft and how long you’ve owned it. My P-51D Mustang, LOUISIANA KID, was purchased in Baton Rouge,…
Read MoreKnow Your Customer Requirements for Aircraft Trust Companies
Know Your Customer (KYC) is the term used by businesses in which they verify the identity of prospective customers to determine if the client is someone with whom they should be doing business. KYC laws were introduced as part of the Patriot Act that was passed after 9/11. Title III of the Patriot Act requires…
Read MoreShort-Term Trusts
When a US-registered aircraft sale is “closed,” its existing registration becomes invalid and the plane must be reregistered by its new owner. There’s a problem when a new owner does not meet the qualifications to register the aircraft in their own name. An aircraft must be registered, and we know that the FAA has stringent…
Read MoreThe Transparency of Aircraft Owner Trusts
Aircraft, like many other assets, may be owned in trust by a third party on behalf of another in the United States. These are known as owner trusts, and they have been used for legitimate business purposes for 40 years in US aviation. Owner trusts were originally developed to support the sale of aircraft by…
Read More9 Benefits to Registering an Aircraft in Trust
An Aircraft Trust is a legal method, approved and overseen by the FAA for approximately forty (40) years, which allows interested parties to register aircraft in the United States in the name of a trustee. The most common reason for setting up an aircraft trust is to provide a solution for entities who do not…
Read MorePrivate Aircraft Pre-Flight Preparation
In 2016, Roger Harr made his second North-Atlantic flight crossing in his Cirrus SR22. Roger spoke to Aircraft Guaranty Corp about his experience, which you can read in our Q & A post. In this guest post, he shares the importance of preparation for such a trip. Pilots planning trips can take away potentially life-saving…
Read MoreWhat is an Aircraft Trust and How Does it Work?
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…
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