Club Homepage Forums Classified Ads Buy & Sell - Airplanes Only Decided to sell my Cessna 150 E

good to know.

There is also the FAA required Bill of Sale form (if memory serves, it's form 8050-2?).

8050-2 has all the pertinent data that's required to be filled in:

Date of sale, seller, buyer, aircraft ID by N number, make, model and aircraft serial number, etc.

Without 8050-2 there is no legal sale or change in ownership.

This is the form that still uses carbon paper which results in (I think) 3 copies:

The top original page, signed in ink, is sent to the FAA, this is what they use to record the sale and change of ownership.

A pink copy that is kept in the aircraft by the new owner and used as a temporary registration.

And the last one is for the new owner to keep with his paperwork.....it's kind of an extra copy that is not typically used for anything.

This 8050-2 is important (that means vital) and it will trump any other bill of sale related to a sale.

This 8050-2 requires the signatures of both buyer and seller so again, this form is important and it needs to be done.

Post sale, you take your old registration (the form Hung eluded to) out of the plane, fill it out, check the export box and send it in. With this the FAA removes your old plane from the current U.S. fleet of registered planes and the population of the fleet shrinks again.



On a side note which does not impact you but could impact the buyer since you indicate it may be for export:

When Cindy and I bought Mighty Mouse in Alaska, we had to fly through Canada making numerous landings within their borders. Canada does not recognize the pink, temporary 8050-2 copy as proof of ownership......they required the official FAA registration that we all carry inside our planes at all times.

That's Canada and that was two years ago. What they do elsewhere is an unknown to me.


Jim

It's the Aircraft Registration Application (form 8050-1) that has to be done in triplicate and you keep the pink copy in the aircraft until you receive the printed one from the FAA. The Bill of Sale (form 8050-2) is sent to the FAA for recording, but no copy is required to be kept in the plane. The FAA doesn't really care who owns the plane. They only require the plane to be registered.

Just to add a bit - the Form 8050 is to transfer the registration. The pink copy says it's only valid in the U.S. (this is an FAA thing, not a Canadian requirement). This, presumably, is because the form is temporary and has not been vetted by the FAA yet. So the aircraft is not allowed to leave the U.S. (and FAA jurisdiction) until they've had a chance to approve the change of registration and issue a permanent registration slip.

As Hung said, the FAA doesn't care about ownership, only registration. In fact, I believe their paperwork still has wording to that effect ("registration cannot be used to determine ownership" or some such phrasing).

As a seller, make sure you also fill out and send in the change of ownership form that Hung posted a picture of earlier. This is the FAA version of turning in the plates when a car is sold. Sometimes the new owner doesn't register the airplane in their name right away. Or, if it gets exported to Bolivia (for example) they'll never tell the FAA. So it's always incumbent on the seller to tell the FAA that the plane has been sold.

It wouldn't hurt to do as Gerardo mentioned and write up a Bill of Sale and keep a copy for yourself. If nothing else, it'll help show the local taxing authority when the airplane left your possession so that you don't continue to get billed.

My opinion is that the pink copy is valid only in the US because it's not a vetted document (anyone can fill one out but not send to the FAA) so other countries will not accept it.



According to info on the FAA site [faa.gov] , evidence of ownership such as a bill of sale is one of the required documents for registering a plane. The FAA's Bill of Sale (form 8050-2) only has signature of the seller. It protects the buyer because the previous owner signed it.

To show that you no longer own the plane because somebody bought it, you'll need to make up your own document where the BUYER signs it.

Thank you everyone for the information - I'll keep you posted.

Anthony, I have a couple of suggestions.

First, say "Will take payments" in your ad. Take a fair down payment and hold the plane until paid off, with a no-refund clause in the sales contract -- and buy pays costs of tie-down or hangar.

Second, drop "Certified for IFR flights (pitot static system check)." You already told them it's IFR.

Third, say something like "Classic Omni-View and square tail configuration, this series only made for 2 years!"

Fourth, "thousands less than buying a cheap 150 then doing an overhaul!"

If I had the money to play with, I'd buy it, but there is absolutely no way. I consider the Omni-View with square tail the best 150 series they made, and adding the Tokyo tanks pushes yours way into Condition WANT IT!

+1

I've been looking at your plane for a while but my runway is too short. I have 3 different people coming today and another 2 tomorrow to give me bids on extending the runway and if I do that I would be very interested in buying your airplane.

Just trying to say, if you can afford it, don't get desperate and give it away to the Bolivian guy just to get rid of it, there's always someone else around the corner looking.

Thanks for these suggestions. I made some changes to my ad. I'm still considering the financing - it seems safe enough but it could become stressful. Maybe I could consider with a club member.