Archive for Aircraft Ownership

Know Your Customer Requirements for Aircraft Title Companies

Know Your Customer (KYC) is the term used by businesses for the process used to 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 […]

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If the FAA says I Own My Aircraft, do I Really?

Not necessarily. Here’s why. Philko Aviation, Inc. v. Shacket United States Supreme Court 462 U.S. 406 (1983) This is a great example of aircraft ownership and the role of the FAA in sales transactions. In this case, a shady character, Roger Smith, sold an aircraft to the Shackets. Smith provided the aircraft and a photocopy […]

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