Securing an aircraft lien release when selling an aircraft is a critical step to ensure that the title is clear of any outstanding liens or encumbrances before transferring ownership to the buyer. As the aircraft seller, first, gather all relevant information about any existing liens on the aircraft. This includes the names and contact information of the lienholders, the amount owed, and any details related to the lien, such as the date of creation. Contact each lienholder to notify them of your intention to sell the aircraft. Inquire about the process for obtaining a lien release and ask for the necessary paperwork or documentation to facilitate the release. If there are outstanding debts associated with the liens, settle them before the sale of the aircraft. Ensure that all payments are made to the lienholders, and request written confirmation that the debts have been satisfied. Request lien releases from each lienholder in writing. The lien release should explicitly state that the lien has been satisfied, and the aircraft’s title is clear of any encumbrances. Review the lien releases carefully to ensure that they are accurate and complete. Verify that the lienholders’ names and other information match the details of the existing liens. If you are using an escrow or title company for the aircraft sale, provide them with the lien releases to facilitate the title transfer process. Include copies of the lien releases in the sale documents to provide evidence to the buyer that the aircraft’s title is clear of liens. If you encounter any complexities or challenges in obtaining the lien releases, consider seeking assistance from an aviation attorney or broker. They can help navigate any legal or procedural issues. Once you have obtained all necessary lien releases and completed the other sale documentation, finalize the sale with the buyer. Complete the transfer of aircraft title to the buyer, ensuring that all necessary paperwork is filed with the relevant aviation authorities.
Securing lien releases is a crucial aspect of the aircraft selling process to protect the interests of both the seller and the buyer. Clearing any existing liens before completing the sale ensures that the buyer acquires the aircraft with a clear title, and it minimizes the risk of legal issues arising after the sale. Working with experienced aviation professionals, including attorneys and brokers, can help stream