What is the IR’s position on Titles?

They don’t have one. The International Registry (IR) is a notice-based registry only. You can register an interest at the IR, but it is only an electronic filing designed to tell you that an interest exists somewhere in the world. To find the actual interest, you must go to the country where the interest was created and hope the documents creating the interest are registered on that country’s registry. If not, then you must track down the parties themselves to see if you can find out what the interest is.

The IR was originally designed to give notice of security interests against assets, not ownership interests. We discussed that in last month’s blog, The History Behind the IR. As the concept was being discussed, however, the creators changed course and allowed for ownership interests to be registered as well. But that does not guarantee a complete chain of ownership.

Not all countries are signatories to the Cape Town treaty. Parties are not required to file interests at the IR, even a party within one of those countries who is a signatory. Aircraft can move around the globe, in and out of countries that participate in the Cape Town Treaty, so there is no guarantee that there will be complete chain of ownership, or that the most current owner has registered his/her interest at the IR.

The IR will not issue any statements or reports about what interests exist against assets on the registry. To find out, you must register to be a user of the IR and do the research yourself or hire a firm (who is already a registered user) and have them do the research for you. There is still no guarantee that the information contained at the IR is complete or even accurate, and the IR makes no assurances to that end.

While the FAA has some level of vetting of documents that are filed there, the IR has no such security measures in place. They vet users of the IR, and only allow approved entities to use their system, but there is no vetting of the interests actually registered at the IR. As with interests registered around the globe, some are valid, and some are not. Its up to individuals to do their research to learn more about the interests registered there.

The IR does a good job of giving notice to the world of the interests that are registered there, but it is by no means designed to be a complete and stand-alone registration system. At least not yet. It is always a safe bet to research the home country’s registry for interests as well. If there are any questionable interests at either place, it is good to do your research and learn more.

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