The Right Team
The successful purchase of an aircraft many times requires the engagement of additional professionals beyond an aviation attorney.
- Aircraft Brokers or Consultants – an experienced aircraft broker or consultant can greatly reduce the burdens of the purchase on the client. They will have extensive knowledge of the types of aircraft available in the marketplace and will be able to educate the client on which types are best suited for the client’s mission. When the aircraft undergoes a pre-purchase inspection, the broker or technical advisor will monitor the inspection to ensure that the client’s interests are being represented. It is well known in the aircraft industry that represented aircraft have more through inspection results.
- Escrow Agent – the escrow agent will do more than simply hold funds in an aircraft transaction. The escrow agent will issue a lien and registration search, make the necessary filings of legal documents with the FAA Civil Aircraft Registry and on the International Registry, and assist with the coordination of the closing.
- Insurance broker – an experienced insurance broker will be able to recognize the needs of the client given the use and type of aircraft purchase. The cost of insurance may vary drastically among various providers. While we always recommend clients purchase the maximum amount of insurance that they can afford, an insurance broker will know what the current industry standards are for the particular aircraft.
About Stewart H. Lapayowker, P.A.:
Based in Fort Lauderdale, Fla., the law firm of Stewart H. Lapayowker, P.A. focuses its practice on private and corporate aviation transactions worldwide, including throughout the United States, South America, the European Union, Asia and the Middle East. The firm regularly assists clients with a variety of issues related to aviation, including the sale, purchase, regulatory analyses, financing and management of corporate aircraft.