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bill of sale

Posted: Sun Jul 05, 2009 4:02 pm
by flyboy2007
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

Bill of sale

Posted: Mon Jul 06, 2009 9:01 am
by flyguy1
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.

Re: Bill of sale

Posted: Thu Dec 03, 2009 10:42 am
by drseti
flyguy1 wrote:We always enter "$1.00 ovc" in the price section on the FAA Bill of Sale.
What does ovc stand for?

Posted: Thu Dec 03, 2009 9:12 pm
by Jeff Tipton
OVC Other various considerations.

Posted: Thu Dec 03, 2009 10:38 pm
by flyboy2007
Thanks guys!