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#2275196 - 09/06/22 08:00 PM Lien on Aircraft
Comply Central Offline
Member
Joined: Aug 2018
Posts: 92
What all do we need to do to perfect our lien on an aircraft in TN?

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#2275202 - 09/06/22 08:42 PM Re: Lien on Aircraft Comply Central
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Aircraft lending is very specialized and if you are not familiar with it, get your legal counsel involved. You may have liens in the FAA registry along with at the State level..
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2275208 - 09/06/22 09:55 PM Re: Lien on Aircraft rlcarey
Comply Central Offline
Member
Joined: Aug 2018
Posts: 92
Thank you! From what I have read in the TN Code, it appears that we file a UCC in our county. Also found "Record an Aircraft Claim of Lien" on the FAA website. We have never had this type of loan, so I didn't want to miss anything.

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#2275213 - 09/06/22 11:32 PM Re: Lien on Aircraft Comply Central
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
That is fine but filing your lien is not the issue. What you need to know are the existing liens and things like is the airframe structure and the engine free of previous liens. This is not a one off type of loan transaction. You either do them and have a policy or you do not.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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