If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#1
|
|||
|
|||
How to buy a US registered glider
I am looking for some advice on the forms and process I need to go
through, to buy a glider registered in the US. From what I can tell, I need a Bill of Sale (form 8050-2) and an Aircraft Registration Application (form 8050-1). It appears that the latter form is only available from the local FSDO (San Jose in my case). Then I need to transfer title of the glider trailer at the DMV by having the previous owner sign over the pink slip. What am I missing, and what have I gotten wrong? Any advice is greatly appreciated. Matt (Jr) |
#2
|
|||
|
|||
How to buy a US registered glider
On Oct 2, 11:19*pm, "Matt Herron Jr." wrote:
I am looking for some advice on the forms and process I need to go through, to buy a glider registered in the US. *From what I can tell, I need a Bill of Sale (form 8050-2) and an Aircraft Registration Application (form 8050-1). *It appears that the latter form is only available from the local FSDO (San Jose in my case). *Then I need to transfer title of the glider trailer at the DMV by having the previous owner sign over the pink slip. What am I missing, and what have I gotten wrong? Any advice is greatly appreciated. Matt (Jr) Call the FSDO and they will mail out the forms, fill them out and be sure to print your name below your signature on your new registration, include a check for $5 bucks and your good to go. You may fly the bird with copies of these documents in the sircraft...................get insurance also. Have fun with your Ventus C, JJ |
#3
|
|||
|
|||
How to buy a US registered glider
Find out if you are required to pay sales tax ( as we are in Fla.). If
you don't pay up front,the state will find out from the FAA and send you a notice to pay + interest+penalty from the date of purchase. Pay attention what fees/taxes you pay with the DMV so you don't pay taxes twice. What? You paid 4000$ for the spare tire and 4000$ for the trailer...good deal! What? You paid 6000$ for the instruments (used) and 20000$ for the glider...good deal! What? The glider needs a new finish and you only paid 14000$ for it....all the better. The glider is one item, the trailer is another. Treat them separately. Mr. Haney would be proud. R |
#4
|
|||
|
|||
How to buy a US registered glider
No Sales tax is due in California for this transaction. Of that I am
sure. But this raises the question, do I need a separate bill of sale for the glider (form 8050-2) and another for the trailer? What are the considerations when pricing the trailer? I assume registration fees at the DMV are based on it's value. I will purchase insurance of course, but I am told by Costello that liability coverage for an auto accident involving the trailer must be covered by my auto insurance. The value of the trailer and its contents are covered by Costello. Matt (Jr) |
#5
|
|||
|
|||
How to buy a US registered glider
Hi Matt,
I just went through this in the last month. In addition, the as the certificate holder the previous owner was required to fill out the reverse side of the current airworthiness certificate and return it to the FAA. They referenced 14 CFR 47.14(a) (4) in a letter sent to him. This may have been because the aircraft I purchased was certified experimental?? I didn't have to do that to transfer my prior ship which had the standard airworthiness certificate. In addition, heed what JJ mentioned...be sure to print your name below the signature in the signature block section. I failed to do that when I originally completed the paperwork. Congratulations on your new ship! FC Norton |
#6
|
|||
|
|||
How to buy a US registered glider
In Florida they ask for a value and if one did not build it themselves showing cost for materials, they ask for a bill of sale for the trailer. They take the citizen at his word and let a reviewer look over the paperwork later and do a float test. If they are suspicious, one could be called apon to prove the value at a future date, checking for tax fraud. The value you claim would have to be way out of the ballpark to attract scrutiny since so many DMV applications takes place per day. The story must be reasonable. The seller could be contacted. Glad you don't pay 6.5% sales as we do in Fl. R |
#7
|
|||
|
|||
How to buy a US registered glider
I' forgot, I would get a separate bill of sale for the glider and
trailer to avoid having to chase it down later. Constello insures them separately. R |
#8
|
|||
|
|||
How to buy a US registered glider
On Oct 3, 9:01*am, hretting wrote:
I' forgot, I would get a separate bill of sale for the glider and trailer to avoid having to chase it down later. Constello insures them separately. R Costello doesn't care about the price of either. it is strictly what we mutually agree to. I don't think you are required to report a price to the FAA either. The DMV might care about the trailer price though. And I don't know about my auto insurance for liability. They might care about trailer price too. Matt |
#9
|
|||
|
|||
How to buy a US registered glider
At 15:19 03 October 2010, hretting wrote:
Find out if you are required to pay sales tax ( as we are in Fla.). If you don't pay up front,the state will find out from the FAA and send you a notice to pay + interest+penalty from the date of purchase. Pay attention what fees/taxes you pay with the DMV so you don't pay taxes twice. What? You paid 4000$ for the spare tire and 4000$ for the trailer...good deal! What? You paid 6000$ for the instruments (used) and 20000$ for the glider...good deal! What? The glider needs a new finish and you only paid 14000$ for it....all the better. The glider is one item, the trailer is another. Treat them separately. Mr. Haney would be proud. R |
#10
|
|||
|
|||
How to buy a US registered glider
On Oct 4, 8:07*am, "Matt Herron Jr." wrote:
On Oct 3, 9:01*am, hretting wrote: I' forgot, I would get a separate bill of sale for the glider and trailer to avoid having to chase it down later. Constello insures them separately. R Costello doesn't care about the price of either. *it is strictly what we mutually agree to. *I don't think you are required to report a price to the FAA either. *The DMV might care about the trailer price though. *And I don't know about my auto insurance for liability. *They might care about trailer price too. Matt The feds don't care what price you put on the bill of sale, but it will be reported to the state of California (by the feds) and if you do not pay Use Tax (aka sales tax) on it within I think it's 90 days you will get a bill from the State Board of Equalization. The bill will have your tax calculated based on the $ amount you have reported on the bill of sale times the use tax rate for your county +penalty +interest, unless you intend to keep it out of state. When you go to DMV (to register) you will have to pay Use Tax on the trailer based on how much you payed for it. If you're an honest tax payer like me you might consider having your seller give you 2 separate receipts, 1 for the trailer and 1 for the glider both adding up to the total price of the purchase to make you trip to DMV more enjoyable. Then next year be prepared to get a property tax bill from your county tax man. It will be assessed at proposition 13 rates of 1% of the value, you will get that every year. One way around that one is if your glider or airplane is 35 years or older you can apply for an exemption based on a historical exemption. |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Insurance for D Registered | glider[_2_] | Soaring | 15 | January 20th 10 03:42 AM |
D Registered...Thanks | glider[_2_] | Soaring | 0 | January 17th 10 08:48 PM |
German registered glider : 3000h inspection, allowed to do it ? | Ludovic | Soaring | 0 | September 8th 08 02:29 PM |
German registered glider maintenance: help with LBA doc needed | Ludovic Launer[_2_] | Soaring | 3 | July 19th 08 10:43 AM |
radio permit for german registered glider | Andy Smielkiewicz | Soaring | 6 | February 24th 06 01:27 PM |