Archive for Wright Brothers Aircraft Title

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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Can’t I Handle My Own Aircraft Closing?

Legally, yes you can. But it would most likely be disastrous. Buying an aircraft is more complex than many other high-end purchases for which you seek the help of professionals, such as buying a home, a yacht, or perhaps even a business. Here are the three main components that make up an aircraft closing, and […]

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Clearing Clouded Aircraft Titles

There are quite a few circumstances that cause clouded aircraft titles. Any break in the chain of title can cause difficulties for owners when they try to buy, sell, or register their airplane. If the problems are overlooked, new owners inherit what the previous owner did not handle. Furthermore, lenders are often hesitant to finance […]

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Why Bother with a Title Search

I got a call once from a man who was about to board a plane to Nashville to buy a plane from a guy he had never met. He was experiencing sudden cold feet, wondering if the man he was about to meet really owned the plane, had the right to sell it, or owed […]

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Escrow – Born in a Pool Hall

I saw this great aircraft for sale online, so I contacted the seller.  He seemed like a nice guy and the aircraft was exactly what I wanted, so I mailed him a check.  I haven’t heard a word since. Have you ever heard a story like this?  They are more common than one might think.  […]

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