Selling airplane

In article ,
Otis Winslow wrote:

Doug wrote:
Looks like I sold my Husky. I will be transferring title tomorrow. Guy
has a Bank Check made out to the LLC that my airplane is held in, which
will go into my LLC's checking acct. I make out a Bill of Sale and mail
it? Is that it? Minutes of my LLC. He will fill out a registration. Do
I keep the old registration? Insureance. Forms? Etc....

Anyway, what all are the procedures and what do I have to watch out for?


I sure wouldn't take a check. Get certified bank funds or a wire
transfer. Is he buying your LLC? or just the assets (plane). You'll need
to return the registration to the FAA at the address shown on it and
show the name of the person it was transfered to. Be sure you sign the
Bill of Sale as an officer of the Corp and not just "owner".

This from AOPA:

"AIRCRAFT OWNERS BEWA SCAMMERS ON THE PROWL
Over the past six months, scammers from Thailand, Nigeria, and the
Netherlands have been trying to make a quick buck off aircraft owners
who have their birds for sale. Here's the scenario: You are selling your
old Cessna 172 for $50,000. A potential "buyer" contacts you through a
Web board or e-mail solicitation and offers to buy your aircraft. This
person offers to pay you $55,000, if you agree to send them a $5,000
check for the difference. You receive what looks like a legitimate
check,
so you send them the $5,000. But when you try to cash the check, you are
told there are no funds in the account. You're out $5,000. "The best way
to protect yourself when selling an aircraft is to do some investigative
work. Check out the party offering to buy the aircraft," said Woody
Cahall,
AOPA vice president of aviation services. "When you receive a check,
make
sure it is legitimate--get your money before sending a check for the
difference." If you have any questions about selling your aircraft,
contact
the AOPA Pilot Information Center ( mailto


A cashier's check isn't necessarily negotiable. Scammers print them up
on computers and send them out -- it may take a couple of weeks to
determine that they are bogus.