Aircraft Purchase Agreement

AIRCRAFT PURCHASE AGREEMENT

PARTIES

SELLER:

Name/Entity: [________________________________]

Address: [________________________________]

City: [________________] State: [____] Zip: [__________]

Phone: [________________] Email: [________________________________]

☐ Individual ☐ Corporation ☐ LLC ☐ Partnership ☐ Trust

If Entity - State of Formation: [________________]

BUYER:

Name/Entity: [________________________________]

Address: [________________________________]

City: [________________] State: [____] Zip: [__________]

Phone: [________________] Email: [________________________________]

☐ Individual ☐ Corporation ☐ LLC ☐ Partnership ☐ Trust

If Entity - State of Formation: [________________]

☐ Buyer is a U.S. Citizen (required for FAA registration)
☐ Buyer is a Resident Alien
☐ Buyer is a U.S. Corporation (at least 75% owned by U.S. Citizens)
☐ Other FAA-Eligible Registration Status: [________________________________]

AIRCRAFT DESCRIPTION

Make: [________________________________]

Model: [________________________________]

Year of Manufacture: [________]

Serial Number: [________________________________]

FAA Registration Number (N-Number): N[________________]

Total Time Airframe (TTAF): [__________] hours

Engine(s):

Propeller(s):

Base Location: [________________________________]

Aircraft Type Certificate Number: [________________]

Airworthiness Certificate Number: [________________]

Date of Airworthiness Certificate: [__/__/____]

PURCHASE PRICE AND PAYMENT TERMS

Section 1 - Purchase Price

Total Purchase Price: $[__________________] USD

Section 2 - Payment Schedule

Section 3 - Escrow Agent (If Applicable)

☐ Parties agree to use an escrow agent

Escrow Agent Name: [________________________________]

Address: [________________________________]

Phone: [________________] Email: [________________________________]

Escrow Fee: $[__________] to be paid by ☐ Buyer ☐ Seller ☐ Split Equally

PRE-PURCHASE INSPECTION

Section 4 - Inspection Rights

☐ Buyer shall have the right to conduct a pre-purchase inspection at Buyer's expense

Inspection Facility: [________________________________]

Facility Location: [________________________________]

Inspection Must Be Completed By: [__/__/____]

Section 5 - Inspection Scope

The inspection shall include:

☐ Airframe log review
☐ Engine log review
☐ Propeller log review
☐ Avionics and equipment log review
☐ Airworthiness Directive compliance verification
☐ Service Bulletin compliance review
☐ Complete physical inspection
☐ Engine compression test/borescope
☐ Operational test flight
☐ Avionics functionality check
☐ Other: [________________________________]

Section 6 - Inspection Results

If the inspection reveals:

a) Major Discrepancies: Buyer may, at Buyer's sole option:
☐ Terminate this Agreement and receive full refund of deposits
☐ Negotiate with Seller to cure discrepancies at Seller's expense
☐ Accept Aircraft "as-is" with price adjustment of $[__________]

b) Minor Discrepancies: (Aggregate repair cost less than $[__________])
☐ Seller shall cure prior to closing
☐ Buyer shall accept with price adjustment
☐ Buyer shall accept as-is

Inspection Approval Deadline: Buyer must approve or reject inspection results by [__/__/____]

REPRESENTATIONS AND WARRANTIES

Section 7 - Seller's Representations and Warranties

Seller represents and warrants to Buyer that:

a) Title:
☐ Seller holds good and marketable title to the Aircraft
☐ Aircraft is free and clear of all liens, encumbrances, and security interests except: [________________________________]
☐ Seller has full authority to sell and transfer the Aircraft

b) Airworthiness:
☐ Aircraft has a current, valid Standard Airworthiness Certificate
☐ Aircraft is in an airworthy condition as of the date of this Agreement
☐ Aircraft complies with all applicable Airworthiness Directives

c) Records:
☐ All required maintenance records, logbooks, and documentation are current and complete
☐ No logbooks or records are missing or reconstructed except: [________________________________]

d) Damage History:
☐ Aircraft has never been involved in an accident or incident
☐ Aircraft has been involved in the following accident(s)/incident(s): [________________________________]
☐ Aircraft has never sustained damage requiring FAA Form 337 Major Repair
☐ Aircraft has sustained the following major repairs: [________________________________]

e) Operational Status:
☐ Aircraft is currently operational and airworthy
☐ Aircraft has been on ground for [____] days/months due to: [________________________________]

f) Taxes and Fees:
☐ All applicable taxes, registration fees, and assessments are current

g) Legal Compliance:
☐ Aircraft has not been used for any illegal purpose
☐ Aircraft is not subject to any government seizure or forfeiture action

Section 8 - Buyer's Representations

Buyer represents to Seller that:

☐ Buyer has the financial ability to complete this purchase
☐ Buyer is eligible to register the Aircraft with the FAA
☐ Buyer has authority to execute this Agreement

CLOSING

Section 9 - Closing Date and Location

Closing Date: [__/__/____]

Closing Location: [________________________________]

Alternative: ☐ Remote closing via escrow

Section 10 - Seller's Closing Obligations

At closing, Seller shall deliver:

☐ FAA Aircraft Bill of Sale (AC Form 8050-2) - executed in duplicate
☐ All aircraft logbooks and maintenance records
☐ All equipment manuals and documentation
☐ All keys
☐ All loose equipment per Equipment List (Exhibit A)
☐ Current weight and balance report
☐ Copy of current registration
☐ Airworthiness Certificate
☐ Lien release(s), if applicable
☐ Seller's affidavit of title
☐ Assignment of warranties (if applicable)
☐ Flight Manual/POH
☐ Other: [________________________________]

Section 11 - Buyer's Closing Obligations

At closing, Buyer shall:

☐ Pay the balance of the Purchase Price
☐ Execute FAA Aircraft Registration Application (AC Form 8050-1)
☐ Provide proof of U.S. citizenship or registration eligibility
☐ Provide proof of insurance

RISK OF LOSS

Section 12 - Risk Allocation

Risk of loss shall pass from Seller to Buyer:

☐ Upon execution of Bill of Sale
☐ Upon physical delivery of Aircraft to Buyer
☐ Upon closing, regardless of physical delivery

Seller's Insurance Obligation: Seller shall maintain hull and liability insurance on the Aircraft through [________________].

DEFAULT AND REMEDIES

Section 13 - Buyer's Default

If Buyer fails to perform:
☐ Seller may retain earnest money deposit as liquidated damages
☐ Seller may pursue specific performance
☐ Seller may pursue actual damages

Section 14 - Seller's Default

If Seller fails to perform:
☐ Buyer shall receive full refund of all deposits
☐ Buyer may pursue specific performance
☐ Buyer may pursue actual damages

ADDITIONAL TERMS

Section 15 - Sales Tax

☐ Buyer is responsible for all applicable sales, use, and transfer taxes
☐ Sales tax exemption claimed (Buyer to provide documentation): [________________________________]

Estimated Sales Tax: $[__________]

Section 16 - Registration

☐ Buyer shall be responsible for FAA registration transfer
☐ Seller shall assist with de-registration from current registry (if applicable)

FAA Registration Fee: $5.00 (current as of 2026)

Section 17 - Broker Commission (If Applicable)

☐ Broker involved in transaction

Broker Name: [________________________________]

Commission Amount: $[__________] or [____]% of Purchase Price

Commission Paid By: ☐ Buyer ☐ Seller ☐ Split

Section 18 - Ferry Flight (If Applicable)

☐ Seller shall ferry Aircraft to: [________________________________]

☐ Buyer shall ferry Aircraft from: [________________________________]

Ferry pilot provided by: ☐ Buyer ☐ Seller

Ferry flight insurance provided by: ☐ Buyer ☐ Seller

GENERAL PROVISIONS

Section 19 - Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements.

Section 20 - Amendments

This Agreement may only be amended in writing signed by both parties.

Section 21 - Governing Law

This Agreement shall be governed by the laws of the State of [________________].

Section 22 - Dispute Resolution

☐ Disputes shall be resolved by binding arbitration in [________________]
☐ Disputes shall be resolved by litigation in courts of [________________]

Section 23 - Notices

All notices shall be in writing and delivered to the addresses above.

Section 24 - Time is of the Essence

Time is of the essence for all provisions of this Agreement.

SIGNATURES

SELLER:

Signature: [________________________________]

Printed Name: [________________________________]

Title (if entity): [________________________________]

Date: [__/__/____]

BUYER:

Signature: [________________________________]

Printed Name: [________________________________]

Title (if entity): [________________________________]

Date: [__/__/____]

EXHIBIT A - EQUIPMENT LIST

[To be attached - detailed list of all avionics, equipment, accessories, and loose equipment included in sale]

EXHIBIT B - DISCREPANCY LIST

[To be attached after pre-purchase inspection - list of any discrepancies and agreed resolution]

FAA FILING REQUIREMENTS

Documents to File with FAA Aircraft Registry:

1. AC Form 8050-2 (Aircraft Bill of Sale) - Original
2. AC Form 8050-1 (Aircraft Registration Application) - Signed by Buyer
3. Registration Fee - $5.00

File With:

FAA Aircraft Registration Branch
PO Box 25504
Oklahoma City, OK 73125-0504

Or File Online: https://aircraft.faa.gov/e.gov/

Recording Fees (If Applicable):

• Conveyance Recording: $5.00 per document
• Conditional Sales Contract: Additional $5.00

This template is provided for informational purposes only and does not constitute legal advice. Aircraft transactions involve significant legal, financial, and regulatory considerations. Professional guidance from an aviation attorney, tax advisor, and aircraft appraiser is strongly recommended.