Transferring aircraft ownership is a delicate process, not because it’s that complicated, but because it requires some level of attention to detail at the time of submitting the necessary forms and applications. There will be certain aircraft transfer of ownership forms involved, so it’s good to pay attention to them and how they will relate to your specific case. Different transfers of ownership will vary in how to best approach them.
Aircraft Transfer of Ownership Forms
There are two main situations in which you’ll be looking at a transfer of ownership process for an aircraft: partial and full transfers. Now the aircraft transfer of ownership forms for both of them are going to be the same, but you will need to fill them out in slightly different ways. Let’s take a look at both situations and how to deal with them.
Transferring Full Ownership
If you are selling or passing on your aircraft, then what you’re looking at is a full transfer of ownership. This means that you are giving up your own claims over the aircraft and passing them along to the new owner. In turn, the new owner will not have to register their aircraft with Transport Canada like you might have had to do because the registration itself is already in place. An aircraft’s documentation is tied to the airplane itself, not to the owner, so you’re merely changing the names and address on the registration by filling out the aircraft transfer of ownership forms. This way, the new owner will have their own claim over the aircraft and you will no longer be tied to it going forward.
Transferring Partial Ownership
Transfers of ownership don’t always have to be full. They can also be partial, which is very common in cases of joint ownership. Marital unions, business partnerships, and family purchases are only some of the ways in which more than one person can have joint ownership over an aircraft. Maybe you and your siblings decided to all pitch in to buy an airplane for the family, or maybe you and your business partner decided you needed one for your practice. Either way, shared ownership over an aircraft might need to be altered, whether to add or to remove an owner. In these cases, you will also need to make use of the aircraft transfer of ownership forms, just make sure you file them as partial transfers rather than as full ones.
Find All the Aircraft Ownership Forms
Now, we all know that filing for any sort of bureaucratic application can quickly become quite a nightmare if you’re dealing with uncooperative government agencies. That is why we at the National Aviation Registration are here to give you a hand. Our platform has every form relevant to the aircraft documentation processes, making it easy for you to not just find the aircraft transfer of ownership forms, but also to fill them out and submit them to Transport Canada. If you need help at any step in the process, all you have to do is give us a call at 1-800-998-3527 or email us at info@canadianaircraftregistry.ca. We’ll make sure you get the assistance you need.