bill of sale

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flyboy2007
Posts: 81
Joined: Sun Jan 27, 2008 3:18 pm
Location: wisconsin

bill of sale

Post 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
"Keep on Draggin"
flyguy1
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Location: Hillsdale, Michigan

Bill of sale

Post 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.
James Scheibner
Hillsdale Aero, Inc.
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drseti
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Re: Bill of sale

Post 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?
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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Post by Jeff Tipton »

OVC Other various considerations.
flyboy2007
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Location: wisconsin

Post by flyboy2007 »

Thanks guys!
"Keep on Draggin"
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