Step 10: Closing Paperwork
The Plane Exchange handles all closing paperwork including the bill of sale, release of lien and registering
your aircraft with the FAA. You will be responsible for registering in your state, if necessary, and paying the
appropriate taxes.
Bill of Sale: A signed copy of the Bill of Sale should be retained by both the buyer and the seller for their
records and another copy must be sent to the FAA for filing. (This is all taken care of when you buy a plane through The Plane Exchange.)
Federal Aircraft Registration: A signed copy of the registration must be sent to the FAA along with a
check for $5.00 to cover the filing fee. The pink copy of the registration will serve as your temporary federal
registration and must remain in your plane until you receive your permanent registration in the mail.
(The Plane Exchange handles the federal registration of all aircraft we sell.)
Release of Lien: If there is a lien on the aircraft, the proper release of lien paperwork must also
be filed with the FAA. (All planes sold by The Plane Exchange come with a clean title.)
State Registration: Each state has different regulations concerning aircraft registration. You should
check with your local flight school to see what the requirements are in your state.
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