Fort Lauderdale Aircraft Transactions Attorneys in Florida Helping You Avoid Regret and Coordinating a Seamless Aircraft Transaction
Airplane enthusiasts might buy an airplane for personal or recreational use. Other airplane enthusiasts might purchase an aircraft to conduct aviation business in exchange for compensation, like a commercial airline. Airplane owners might be interested in selling their aircraft to get out of aviation for personal, financial, or health reasons.
Aircraft transactions involve substantial amounts of money, and your safety, reputation, and profitability are on the line as a potential airplane owner. Whether acquiring or selling an airplane, there are many hidden legal liabilities and financial landmines in the transaction process that only an experienced aviation lawyer can unearth to avoid buyer or seller remorse.
Our international aircraft transactions lawyers with Aero Law Center help buyers and sellers get the most out of a transaction. We steer our clients in the right direction and don’t get easily thrown for a loop in this industry. Our firm handles diverse aviation cases with detailed nuances that will help drive negotiations and ensure a smooth transaction for both parties involved.
From aircraft purchases to sales to negotiations and lending, Aero Law Center is on standby for your aviation transaction needs.
Am I the Right Candidate for Aircraft Ownership?
A few good rules of thumb when considering an aircraft purchase is the number of hours you fly per year, your existing partnership (if applicable), expenses and costs, and the purpose of your purchase. For instance, buying a plane might be more cost-effective if you fly more than 200 hours per year.
If your reasoning is to access more private flights, there are alternatives to achieve your goal than investing in an airplane and everything that goes along with it. You can use jet cards, a charter plane, or fractional shares, as a few examples.
Buying an aircraft is a big decision and commitment. It should ultimately make your life easier—not more complicated. One big way to determine whether you’re a good candidate for aircraft ownership is a person that can save enough time in using the aircraft to offset the overall cost.
There are also liabilities and other legal pains involved with ownership as part of the consideration process. We can put you at ease regarding the shopping—and transaction process—with a quick introductory phone call. Call our experienced international aircraft transactions lawyers with Aero Law Center to guide your decision process: 954-869-8950.
What Steps Should I Take When Purchasing an Aircraft?
When you decide to purchase an aircraft, taking action is the next step in fulfilling your dream. Investing time in the research process and soliciting the help of industry experts up front, such as our aviation lawyers, will save you time and money in the long run. It also will help you avoid buyer’s remorse.
Helpful steps to purchasing an aircraft include examples such as:
- Knowing the pros and cons of new versus used
- Getting an evaluation of the aircraft
- Applying for financing if cash is not involved
- Completing a pre-purchase inspection
- Understanding the necessary certifications needed to fly the plane and ensure its airworthiness legally, whether for personal use or commercial
- Reviewing and understanding all national and international regulatory issues, liabilities, and titles
- Conducting lien searches, and the registration process
- Hiring an aviation lawyer to assist with the creation of a purchase agreement, especially involving a transition of ownership
Consulting our clients on the necessary steps with proper legal guidance is one-way Aero Law Center is instrumental in ensuring a smooth acquisition of an aircraft. Schedule a consultation and speak with our international aircraft transactions attorneys to get the process started: 954-869-8950.
What Should I Avoid When Selling My Aircraft?
Selling an airplane can feel like a daunting process as there’s marketing, sales, paperwork, and more to consider. As an airplane seller, whether a former owner or aircraft broker, you likely need ongoing legal support to coordinate a seamless negotiation and closing. Start by avoiding some of the most common missteps in selling an aircraft, including:
- Start with an accurate valuation to set the right price. Not only should you use Bluebook and VREF values, but you should also incorporate specific data and real-time industry trends and market changes. Condition, maintenance, and usage history will help inform the overall sales price.
- Make marketing a priority. People buy on emotion, and an aircraft is a lifestyle. Don’t skimp on photography and a detailed listing; market in the proper channels to attract quality buyers.
- Allow for a diligent pre-purchase inspection. Every buyer is different; some folks rely significantly on a heavy maintenance inspection, while others might refer to your logbook for details and history.
- Protect yourself from scams and liability. A trusted aviation lawyer like Aero Law Center can help you get the best price, close the deal and protect your reputation and financial interests.
- Know that the sale is complete when you receive the money and titles are transferred. Sometimes sellers jump the gun in a transaction before the money hits their account. The title must be transferred and money moved into your account before the sale is complete.
How Can an Aircraft Attorney Help with a Transaction?
Airplane owners looking to sell their airplanes and airplane enthusiasts looking to buy an airplane use Aero Law Center to ensure a seamless transaction. Buyers and sellers could engage our services, and our job is to protect our customers from legal liabilities and financial harm.
Years of aviation experience and diverse industry transactions make us an asset to buyers or sellers in complex airplane transactions. We create peace of mind throughout the process and assist with the following:
- Drafting an enforceable purchase agreement
- Assisting with loan documents and financing
- Creating favorable terms for buyers or sellers to avoid disputes
- Creating a fractional purchase agreement
- Highlighting block and joint-use negotiations if sharing an aircraft is a possibility, or an airplane owner is interested in selling blocks of time
Buyers and sellers rely on Aero Law Center as we offer helpful guidance and support throughout the aircraft acquisition or sales process. Contact our aviation attorneys for assistance with an aircraft transaction to ensure you are getting the best deal for you.
Reach out and book a consultation to get started: 954-869-8950.