When a pilot passes away, their airplane often becomes one of the most complicated assets for the family to deal with. Unlike a car or a house, most people have no idea how to sell, transfer, or even value an aircraft.
If you’ve inherited a plane — or you’re the executor of an estate that includes one — here’s a straightforward guide to your options.
Step 1: Don’t Panic (And Don’t Move the Plane Yet)
The aircraft is almost certainly insured — or it should be. Check for an active insurance policy. If the policy lapsed, don’t fly the plane or let anyone else fly it until you figure out next steps.
Leave the plane where it is for now. If it’s in a hangar, keep paying the rent (usually $200–$500/month at a small airport). If it’s on a tiedown, the cost is minimal.
Step 2: Find the Key Documents
Look for these in the pilot’s files:
- Aircraft logbooks (airframe, engine, propeller) — These are the aircraft’s medical records. Without them, the value drops significantly.
- Title/bill of sale — FAA Form 8050-2
- Registration certificate — The white card that should be in the plane
- Insurance policy
- Annual inspection records (may be in the airframe logbook)
If you can’t find the logbooks, don’t panic — we can help navigate that situation too.
Step 3: Understand Your Options
- Sell it to a direct buyer (like us) — Fastest and simplest. We make a cash offer, handle all the FAA paperwork, and close quickly.
- List it on consignment — A broker lists and markets the plane for you. Higher price potential, but takes longer.
- Keep it — If someone in the family wants to fly, they can transfer the registration. This is rare, but it happens.
Step 4: Transfer the Registration
The FAA requires specific documents to transfer a deceased person’s aircraft registration:
- With probate: The executor can sign an FAA bill of sale on behalf of the estate. You’ll need letters testamentary and the death certificate.
- Without probate: More complicated. May need a small estate affidavit or a court order. We can guide you through this.
Step 5: Get a Fair Valuation
Aircraft values depend on make, model, year, total time, engine time, avionics, and condition. We offer free, no-obligation valuations for estate aircraft. We’ll tell you honestly what the plane is worth — even if you decide not to sell to us.
The Bottom Line
Dealing with an inherited airplane doesn’t have to be stressful. The most important thing is to not rush into a bad decision. Take your time, find the documents, and talk to someone who knows the process.
We specialize in exactly this situation. If you have questions — about anything — call us. We’re happy to help, even if we don’t end up buying the plane.
Leave a Reply