There are a couple more pieces of paper that need to be completed during the purchase of your sport aircraft. The first is an aircraft bill of sale which the seller should have. If not, you can get one through your lender, or directly from the FAA, and prepare it yourself.
Once you’ve registered your aircraft with the FAA you receive a new Certificate of Aircraft Registration with your name and address on it (and/or any lender’s information).
As you take possession of your new/used plane, make sure you get all available records including mechanical, flight, maintenance, and other logs. In fact, make sure you’ve carefully reviewed them before plunking down your money. Otherwise you might discover something that affects the plane’s airworthiness — and value — too late to do much about it. A careful consumer is a smart consumer.
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Now that you’ve read all about buying your plane maybe you’ve decided that you need more options. Additional flight guides offer them: sharing, building, and renting your wings. Even if you’ve decided to buy, keep reading anyway to learn more about the absorbing world of private aviation.
"Man cannot discover new oceans unless he has the courage to lose sight of the shore."
-- Andre Gide