Aircraft Sale Agreement Form
Seller wishes to exchange all rights, title and interest of Seller in and to the Aircraft for other aircraft of the same nature and Qualifying Use, in accordance with Section 1031 of the Internal Income Code. To this end, Seller expressly reserves the right to obtain its rights, but not its obligations under Exeter 1031 Exchange Services, LLC, a qualified intermediary, according to IRC Reg. 1.103l (k)-l (g) (4) on or before the closing date. As soon as the inspection is clear, the sale can be concluded. The full purchase price must be paid and the aircraft must be delivered by the seller on the agreed date. The buyer can also choose to fly directly there, and then, once he has completed the provisional check-in, which is first necessary. All sales, use or other similar taxes, as well as any interest or penalties related to such taxes (unless such interest or penalties are the result of an act or omission by or on behalf of the Seller that has not been otherwise authorized or ordered by the Buyer) resulting from the sale of the aircraft to the Buyer, with the exception of income, taxes on capital gains or similar tax imposed on the seller are the responsibility of the buyer. In the event of notice to seller of a proposed sale, use or similar tax, control, receivable, valuation or proposed liability, for which Buyer may be liable under this Section, Seller will immediately inform Buyer of such potential tax liability. Buyer has the right to control, manage or defend audits, claims, evaluations, proposed liabilities or disputes relating to the use of the sale or similar taxes for which Buyer is responsible under this section. Once you have this document, you will need the following information to complete it in this order: (c) After the correct and timely positioning of the aircraft at the place of delivery and after the fulfillment of all the obligations and agreements of the seller contained therein, the buyer must deposit the purchase price with Exeter 1031 Exchange Services, LLC, the qualified intermediary designated by the seller by electronic transfer, then (ii) seller and Kä With respect to civil aviation, the fiduciary agent must immediately ask the fiduciary agent to date and file the DE FAA sales contract in the civil aircraft registry, b) date and submit the application for registration regarding the aircraft and (c) release the warranty contract to the buyer. At the same time, the buyer must issue to the seller (by fax and mail) a delivery note for the aircraft as set out in Annex C and issue it to the seller. The risk of loss, loss, liability or damage related to the aircraft passes to the buyer when the buyer delivers the delivery note of the aircraft to the seller (this is the “closing time” and the closing date is the “closing date”).