The FAA Registry office in Oklahoma City, Okla. is closed while the U.S. Government is shut down. Accordingly, the FAA is not able to conduct title searches, file and record documents such as Bills of Sale or Aircraft Registrations, or obtain International Registry codes.
The shutdown of the FAA Registry office effectively precludes the closing of traditional aircraft transactions. Also, it is not possible to process required 3-year re-registration of aircraft during the shutdown.
Aircraft owners contemplating a transaction may want to take the FAA Registry closure into consideration before planning a closing date. Also, aircraft owners may want to consider checking the status of the aircraft registration and the required registration renewal status to see if the shutdown will impact the aircraft registry status. An aircraft not properly registered could be effectively grounded unless the owner avails itself of limited planning options.
The above is intended only for your information and should not be considered as legal advice. For more information regarding the issues described in this document, please contact Clifford G. Maine, chair of Barnes & Thornburg LLP’s Aviation group, at (616) 742-3944 or firstname.lastname@example.org.
TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not constitute a “reliance opinion” as defined in IRS Circular 230 and may not be used to establish reasonable reliance on the opinion of counsel for the purpose of avoiding the penalty imposed by Section 6662A of the Internal Revenue Code. The firm provides reliance opinions only in formal opinion letters containing the signature of a partner.
© 2013 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is proprietary and the property of Barnes & Thornburg LLP. It may not be reproduced, in any form, without the express written consent of Barnes & Thornburg LLP.
This Barnes & Thornburg LLP publication should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation.