What is a Clear Title?
A clear title shows you that there are no liens in the FAA aircraft-records. The aircraft records contain all of the ownership and security documents that have been filed with the FAA. Most states authorize mechanic liens. These will normally be filed with the FAA. Have an attorney or a qualified aircraft title search company conduct the search. A list of title search companies can be found at Title Search Companies and Law Firms. Only a through examination of the aircraft’s records will secure an ownership history and determine if there are any outstanding liens or mortgages. This step will help avoid a delay in registering your new aircraft. The Pre-Buy Inspection It’s important to have a mechanic to perform a thorough Pre-Purchase or Pre-Buy Inspection. It is possible to locate a local mechanic to conduct the pre-buy, however, a better ideas is to pay to have the aircraft delivered to your local mechanic. Your local mechanic will be the person conducting future inspections and is yo
Many people look forward to the day when they no longer need to make house or car payments, and when they own their property free and clear. Such ownership, when no mortgages, loans or liens still remain on the property, is called a good title or a clear title. With a clear title, you own your property fully, and only you, or anyone else who jointly owns the property with you, has any claim to it. It would be a mistake to assume that having a clear title doesn’t mean you won’t continue to make certain payments. For instance, with a clear title on a car, you may need to make yearly car registration payments, and you might also be required to carry a minimum amount of car insurance. Owning a home or other property free and clear doesn’t mean that a state or federal agency won’t come asking for property taxes each year. If you fail to pay those taxes, the agency requiring taxes can repossess your home. Similarly you can own a clear title on property that sits on property you don’t own. Yo
