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CJI Town Hall - Episode 65 - Why a new FAA rule is threatening US aircraft due diligence
Manage episode 461110560 series 2878300
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You may not realise, but the FAA has just changed the rules on accessing certain documents. It says it is doing this to protect personal information, but this had chilling effect on deals. Oklahoma lawyers and title companies now no longer have full access to things like:
- Bills of sale filed for an aircraft but not yet recorded
- Mortgages filed with the FAA and in the process for recording
- Leases filed with the FAA and in the process for recording
- Mechanics and artisan’s liens filed against an aircraft
- Notices of deregistration from foreign civil aircraft registries, a precondition to the FAA processing any Bill of Sale and Aircraft Registration Application to result in U.S. registration of the aircraft
- Letters to change or reserve a specific N number
- Letters from the FAA rejecting the filing of a specific document and requesting additional information before processing the same for recordation.
In this emergency Town Hall we will look at why it has been introduced, ways that the process could be revised and how the industry can help the FAA recognise the issue.
Speakers:
Jack Gilchrist, Gilchrist Aviation Law
Scott McCreary, McAffee & Taft
Bob Kalsu, Crowe & Dunlevy
66 episodios
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