bill of sale

Paul Hamilton is one of the first persons to become a DPE (Designated Pilot Examiner) for sport pilots. As a full-time author and sport pilot expert, he writes books and produces DVD's for Aviation Supplies and Academics (ASA). Now Paul has graciously agreed to answer your questions here. Thanks Paul! For more information about Paul, please visit www.Paul-Hamilton.com and www.Sport-Pilot-Training.com.

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flyboy2007
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bill of sale

Postby flyboy2007 » Sun Jul 05, 2009 4:02 pm

Ok, I am trading my airplane to another guy for an even up trade. No money involved. What kind of forms do I have to fill out with him. And what do I write on the bill of sale as far as where the price goes? Any help would be greatly appreciated. Thanks in advance. John
"Keep on Draggin"

flyguy1
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Bill of sale

Postby flyguy1 » Mon Jul 06, 2009 9:01 am

We always enter "$1.00 ovc" in the price section on the FAA Bill of Sale. My understanding of that space is that it is made available if you want to use the FAA Bill of Sale as your sales contract. We use a separate document for the sales contract.
James Scheibner
Hillsdale Aero, Inc.

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drseti
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Re: Bill of sale

Postby drseti » Thu Dec 03, 2009 10:42 am

flyguy1 wrote:We always enter "$1.00 ovc" in the price section on the FAA Bill of Sale.


What does ovc stand for?
The opinions posted are those of one CFI, and do not necessarily represent the FAA or its lawyers.
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Jeff Tipton
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Postby Jeff Tipton » Thu Dec 03, 2009 9:12 pm

OVC Other various considerations.

flyboy2007
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Postby flyboy2007 » Thu Dec 03, 2009 10:38 pm

Thanks guys!
"Keep on Draggin"


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