Daugherty ♦ Fowler ♦ Peregrin ♦ Haught & Jenson
A Professional Corporation
aviation title and finance law
Quite frequently, clients seek advice with respect to the options available for registering an aircraft on the U.S. Registry, as well as the structure of the transaction and form of documents needed to accomplish the transaction. Our attorneys have many years of experience with issues relative to the various types of registration available to a client and assisting in the selection of the most appropriate alternative. Aeronautical Center Counsel opinions are requested prior to the closing of certain transactions to ensure the valid registration of aircraft and a smooth closing. Advice and opinions of Aeronautical Center Counsel are also requested in transactions involving unique or new issues relating to the registration of aircraft or the recordation of instruments by the FAA Registry. Transaction documents are reviewed from a FAA perspective to determine the acceptability for recordation by the FAA Registry pursuant to the U.S. Transportation Code.
One of the most critical documents needed to operate an aircraft is the Registration Certificate. DFPH&J advises clients with respect to the time-frame relative to obtaining international fly wires issued by the FAA Registry and the coordination of closings to obtain these fly wires in the most expeditious manner. Clients are assisted with transactions involving the import and registration of aircraft not previously registered on the U.S. Registry, as well as the export and cancellation of aircraft on the U.S. Registry. The Firm also assists clients with renewals of Certificates of Registration to comply with the FAA re-registration requirements. Obtaining duplicate Certificates of Registration for lost or misplaced permanent Certificates of Registration is another important service provided by the Firm.
Acting as special FAA counsel to a transaction, DFPH&J holds the transaction documents in escrow to the specific order of the parties authorizing the release and filing of the documents with the FAA Registry at closing.
A valuable service that DFPH&J provides, and which most often is the foundation for structuring an aircraft transaction, is the examination of the FAA and International Registry records. Title and lien search memoranda indicating the current registered owner and identifying liens and encumbrances against aircraft are provided to clients. The Firm also provides assistance to parties by drafting curative instruments to clear the FAA records with respect to liens and encumbrances. Many transactions involve the issuance of closing opinions with respect to the recordability of instruments to be filed with the FAA Registry at closing, the status of registration of the aircraft and the perfection of liens and encumbrances against the aircraft. Our opinions also encompass registrations on the International Registry and the priority thereof.
DFPH&J was actively involved with the implementation of the Cape Town Treaty in the U.S. and has been a part of developing the constantly evolving International Registry, along with its Regulations and Procedures, over the years through serving on the International Registry Advisory Board. Because of our Firm’s depth of experience with transactions subject to the Treaty and attendant International Registry registrations, we are often called upon to speak at seminars and conferences regarding industry practice matters with respect to the Treaty and the functionality of the International Registry. We provide clients with expert advice and conduct registrations on the International Registry to accomplish the goals of perfection and priority of interests required in transactions. DFPH&J is frequently engaged to register interests on the International Registry and issue opinions for foreign registered aircraft transactions.
Our team of IR specialists has vast experience with the International Registry and has a unique relationship with its staff. We often confer with the International Registry on upcoming improvements to the system and functionality matters. Additionally, we offer services to our clients to establish and administer International Registry transactional user accounts.
Copyright © Daugherty, Fowler, Peregrin, Haught & Jenson. All rights reserved.
100 N. Broadway, Suite 2000, oklahoma city, oklahoma 73102