Florida Aviation Transaction Lawyer
Aviation law is the branch of law that concerns flight, the operation of aircraft, the maintenance of aviation facilities, and all legal and business concerns related to air travel. The Federal Aviation Administration (FAA) is the agency that oversees regulatory compliance in security matters for commercial airlines, flight schools, and private and corporate aircraft. FAA rules and policies affect aircraft transactions.
For a purchase this large, you want a Florida aircraft purchase lawyer. For those in the state of Florida, these professionals are at Parikh Law. Our team has extensive experience in aircraft transactions, operating leases, and other related financing concerns. If you are considering selling, buying, registering, and financing aircraft, then call 321-558-2704 to speak to one of our attorneys to start the process today. We have the expertise in aviation law to help you secure an agreeable purchase contract for corporate aircraft, business aircraft, commercial aircraft, private planes, charters, and more.
Mr. Parikh is a member of the Florida Bar and is licensed to practice aviation law. Mr. Parikh has experience in all aspects of aircraft transactions, insurance coverage, risk management, service, and brokerage agreements. He is also a member of the National Business Aviation Association and a member of other prestigious law organizations.
Why Should I Hire an Aviation Tranairsaction Attorney?
You should always have a lawyer helping you throughout an aircraft acquisition. A Florida aviation lawyer can help you with purchase agreements, ensure that regulatory requirements have been met, and guide you throughout the aircraft transaction process.
When making an aircraft purchase, there are many details that should be ironed out to protect both the buyer and seller, such as the flight and airworthiness of the aircraft, the total cost, and the deposit.
Some transactions are not between two people, though. Rather, they are between multiple parties. Or an aircraft is leased to a person or entity. Aviation transactions can get complicated quickly, but an attorney drafts purchase agreements, service and brokerage agreements, negotiates management on your behalf, and keeps you informed throughout the process.
How Can An Aviation Lawyer Help?
Our expertise has been developed over the years of providing successful legal services to our clients including aircraft owners, pilots, airlines, airports, flight schools, and general aviation businesses. Call us today about:
- Airport development and operations
- Aircraft acquisition
- Aircraft ownership and operational structures
- Aviation litigation
- Business aviation
- Certificate of Public Convenience and Necessity (COPCN) matters
- FAA regulations and compliance
- Negotiating aircraft transactions, maintenance agreements and more
There are a few regulatory agencies that oversee air travel, including the Federal Aviation Administration (FAA), Department of Transportation (DOT) and Transportation Security Administration (TSA), which is under the Department of Homeland Security. You can be confident when working with an aviation transaction attorney that you will meet regulatory requirements throughout the process of purchasing, financing, or leasing private and business aircraft.
At Parikh Law, we strive for customer satisfaction when working with our clients on aviation transactions. Our law firm is based in Orlando, Florida, and is ready to help you with your next aircraft transaction and acquisition.
The Aircraft Purchase Agreement provides the terms of the purchase and is just as important if not more important than securing financing. Purchase agreements help you go through the transaction process more confidently and smoothly, and protect your interests.
Purchase agreements are usually drafted by the buyer’s attorney during the aircraft transaction process. Purchase agreements for aircraft transactions generally include the purchase amount, pre-purchase inspection, the deposit amount, and whether it is refundable. It may also include a provision requiring the seller to repair equipment or parts that are vital to making the craft airworthy.
Sales and Use Tax
Buyers must pay sales and use tax depending on where buyers acquire or deliver the aircraft, significantly increasing the cost of aircraft ownership. Aircraft sold in the state of Florida are subject to a 6% sales tax and possibly discretionary sales surtax. The dealer or broker must collect this tax at the time of sale of the aircraft and remit it to the state.
If the aircraft was sold in another state and then brought to Florida and has remained here for a month, then it may be subject to a use tax. An exemption would be if the aircraft was in Florida for no more than 20 days within the first six months since the purchase. You could consult professional legal services to determine if any exemptions apply in your case.
Our highly rated commercial and business aviation lawyers have represented clients in transactions involving the financing of billions of dollars worth of commercial aircraft and equipment.
An attorney can help you with the closing process for your aircraft acquisition. Upon receipt of the funds, the escrow company coordinates filing with the FAA Aircraft Registry your FAA Bill of Sale and the FAA Application for Registration, which effectuates title transfer.
The closing of a purchase agreement is a great feeling. It is critical to the success of your aircraft purchase to work with someone who thoroughly understands aviation law.
Our team will facilitate the transaction process through the closing and beyond.
What are the Requirements for an Aviation Transaction?
Unlike other types of real estate, there are regulatory requirements that must be complied with, like citizenship requirements, and import regulations for aircraft purchased abroad. US aviation law prohibits reimbursement or benefits of any kind to an aircraft operator who does not hold a Part 135 certificate and operates in compliance with related operating limitations.
The FAA can pursue an enforcement or civil penalty action against an aircraft owner if they are in violation of any state or federal regulations. Our aviation attorneys specialize in regulatory compliance matters and explain the requirements and laws that are applicable to your transaction.
Call Now to Discuss Your Aircraft Acquisition
Parikh Law is an Orlando-based firm specializing in aviation law and litigation, aircraft transactions, and acquisitions. Our Florida FAA violations attorneys have helped other clients like you with a plethora of aviation-related cases, including avoiding the legal and tax drawbacks of aircraft ownership and management. Whether you are an FAA-licensed commercial pilot, flight school, involved in air charter operations, or have questions about business or commercial aircraft transactions, then call 321-558-2704 now.