IATS provides assistance to parties that seek to file documents with the FAA in order to transfer a title to an aircraft or clear a title of liens or encumbrances. Our team of documentation specialists will review the documents to determine if they meet FAA requirements and file the documents with the FAA on behalf of the parties involved in the transaction. Upon request, IATS can conduct a title report after the recordation of the documents with the FAA.
Aircraft owners have the option of changing the registration number on their aircraft to a number that has some special significance. By utilizing IATS to file the necessary requests with the FAA to change their registration number, owners can be assured that the process will be completed in an efficient and smooth manner without any unnecessary delays or risk of losing a special number.
In our experience, as many as 20 to 30 percent of aircraft title titles are clouded in one way or another. As an example, when engines are replaced during routine maintenance, after a period of time the replacement engines can be subject to liens from different lenders. Four engines on an aircraft can each have a different mortgage with a different lender. In some instances, a lien can be against the engine and not the airframe.
When a title turns out to be clouded, the IATS Research Department assists clients in locating the parties involved and will help acquire the documents needed to remove the cloud in the aircraft title.
IATS can conduct a complete search of FAA records and identify and interpret all prior titles, adverse interests, liens and claims. Separate searches are also conducted for the airframes and engines on all prop-driven aircraft with engines over 550 SHP and on all jet aircraft with engines producing 1,750 pounds of thrust each, in accordance with FAA recordation procedures.
International Registry Priority Searches can be conducted on airframes, aircraft engines and helicopters that meet the size requirements of the Cape Town Treaty. These searches provide details of the registrations made against the aircraft and the order of their priority. It is important that FAA and International Registry Searches are completed in order to provide parties of a transaction a complete view of all outstanding liens and interests.