Faa Security Agreement Search
At least one jurisdiction, Georgia, recognizes the pledges of floating mechanics in relation to aircraft equipment. The pledges of floating mechanics are remarkable, as they can pose a much greater threat to the interests of aeronautical equipment in the states where they are recognized than other types of pawning rights. A floating mechanical pawn is a pawn fee that ends on equipment that comes into the possession of a mechanic who has not been paid for work previously performed on other debtor property.24 The debtor must not be the owner of the equipment. Unlike typical pawn rights, the floating pledge fee can be attached to devices that the mechanic has not repaired or for which he has not put materials in place. As a result, a floating pawn right can save more than the value of repairs or materials performed for a single device. In other words, a floating pledge fee equivalent to every dollar owed by a debtor to a mechanic could be attached to a single aircraft, which could destroy the security interest of a previously advanced mortgage borrower. This is a problem for insured lenders, particularly when a particular mechanic regularly works on a debtor`s fleet. If a security agreement or warranty document is reinstated, we will send a file notification, AC Form 8050-41, to the secure party. This communication describes the aircraft in question (as well as other eligible security such as the airline`s engines, propellers and spare parts sites). In addition, the registered document is identified based on its date, parts, AC registration number and registration date.
This registration message is sent as confirmation that the pledge fee has been registered and added to the recording of the aircraft data. You can check the aircraft`s recordings yourself or have it done by a lawyer or company for the search for aircraft titles. Several companies that search for aircraft titles and related services are available on the Internet. HQ does not search for securities. In accordance with the underlying legal framework (49 USC Chapter 441) and as described in the current SORN, the information contained in the list of aviation data is available upon request from the public.