Documentation Transfer At Sale

When my kit is sold, who gets copies or originals of the following documents?

1. Original License Agreement
2. All kits purchase receipts
3. Builders log
4. Build progress pictures
5. Bill of Sale (haven't found a good solution for that yet)
6. Waiver of Liability (no definitive format for that either)

What am I missing?

One person asked for the Lycoming test run record, but I can't recall seeing one and Lycoming Customer Service says they have no idea what the protocol was back then.

Like most things in life, what does the agreement between the buyer and seller require?

Is this a kit or flying aircraft?

If it's a kit, it would be reasonable to provide build logs, photos, etc to determine 51% rule. You could provide copies if there is sentimental value to the seller.

The only price that matters is the one on the Bill of Sale, although copies of the kit purchases would be nice to have.

The Bill of Sale is a FAA form. If a kit and the sale is registered with Van's so the builder # is transferred, then Van's will issue the final Bill of Sale. All they do is to cross out the word aircraft and replace it with the word "kits". The seller could do the same if you are just selling partial kits.

The Waiver is between the buyer, seller, and their respective lawyers. This is really difficult, because in many states the buyer can't sign away the rights of his heirs. You can stop the buyer from suing you, but what about his spouse or kids? The good news is that their aren't many lawsuits in the experimental market, but I suspect that will change as they become more prevalent.

Thanks for the guidance. Yes, it's more kit than not.
Future suit by heirs for selling parts.

I'd give a buyer everything I've got that doesn't have my credit card number on it.

Dave

Rex said:

Thanks for the guidance. Yes, it's more kit than not.
Future suit by heirs for selling parts.

Click to expand...

I wouldn't worry about any waivers for parts. They're just parts. No liability until the person validates that those parts are airworthy.

Once Vans knows who the new owner is, they'll issue a bill of sale for the FAA once the final kit is purchased. You don't really need a formal FAA bill of sale for parts. Just need whatever the buyer is comfortable with.

The 8050-2 form didn't look like it was the right one for me. I'll make a generally inclusive list of sub kits, accessories, and documents. I remember it took days to do part by part inventory upon receipt. Buyer's several states away & deal is 2 weeks away. I'll email to him what I think is right & we'll come to an mutual agreement.

You can hand write a Bill Of Sale agreement between you and the buyer of the kit/parts. Note in the agreement that the kit is "As Is, No Warrantee Implied, Buyer assumes all Risks" or some language like that. CYA...

As David stated, give them everything that doesn't have your CC on it. Ensure that the Plans and Manual are transferred to the new owner.