How are sales transactions typically done these days?

[hharney]

Originally Posted by YankeeClipper

It's my understanding currently, that to take the aircraft home, you need only to have a bill of sale filled out (not submitted to any other party/agency at this point), and the "back" of the registration filled out with the buyer's name and address, and the seller's signature (also not sent or copied to any other party at this time). Simply filling out and holding onto the above two documents makes your possession and transport home of said aircraft 100% legal. Is that correct?

Forms for Buying and Selling Aircraft

Aircraft Registration (AC Form 8050-1)

Aircraft Bill of Sale (AC Form 8050-2)

8050-3- Current registration in aircraft, back filled out, signed and sent into FAA.

Information if registering aircraft in an LLC

Sample Aircraft Purchase/Sales Agreement

An airworthiness certificate usually is transferred with an airplane when it is sold, but the certificate alone does not fulfill the regulatory requirement. A buyer must ensure that the airworthiness certificate is, as the regulation specifies, current.