127k views
4 votes
How is a lien against an aircraft typically perfected?

A. Filing with the FAA Aircraft Registry.
B. Notarized statement from the owner.
C. Publication in a local newspaper.
D. Verbal agreement.

User Sampad
by
7.4k points

1 Answer

4 votes

Final answer:

Option(A) A lien against an aircraft is typically perfected by filing with the FAA Aircraft Registry. Contrastingly, options B (notarized statement from the owner), C (publication in a local newspaper), and D (verbal agreement) are not recognized as proper methods for perfecting a lien on an aircraft. It is essential that the formal process of registration with the FAA is followed to establish and maintain the validity of the lien.

Step-by-step explanation:

A lien against an aircraft is typically perfected by filing with the FAA Aircraft Registry. This is done according to the regulations set forth by the Federal Aviation Administration, which mandates that security interests in aircraft must be filed through the National Aircraft Title Information System (NATIS) for them to be recognized legally. This process ensures that the lien is publicly recorded and searchable, which is crucial for protecting the interests of the lienholder.

A lien against an aircraft is typically perfected by filing a notice with the Federal Aviation Administration (FAA) in the United States. This process involves submitting a document known as a "Aircraft Security Agreement" or "Aircraft Chattel Mortgage" to the FAA's Aircraft Registration Branch. Once filed, this notice serves as public record, alerting potential buyers, lenders, or other parties about the existing lien on the aircraft. The FAA's Centralized Service Center manages these filings, helping establish and maintain the priority of security interests in aircraft, providing clarity on ownership and financial obligations related to the aircraft

User Rishit Dagli
by
7.5k points