PPRuNe Forums - View Single Post - N-Reg trustee International Air Services - any experience?
Old 21st Jun 2012, 01:32
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freedomoftheair
 
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When there is a FAA Trust company, the company typically enteres into the contract yearly with a yearly payment. Should the Trustor wish to not renew his Trust by non payment of the yearly Trust fee, than the Trust company, no longer being in contract, resigns as Trustee. Most companies wait many months to see if the Trustor wishes to pay for his Trust. When the Trust is not renewed, the aircraft reverts back to the non American owner. When there is a non American owner, the FAA de-registeres the aircraft. If at a later date well past the termination of the Trust, a Trustor instructs his old Trust company to execute documents dated past the termination of the Trust, Trust companies typically ask that the arrears be paid. The FAA also de-registers aircraft owned by American citizens and corporations when the FAA sends the registered party a notice to re-register their aircraft and the FAA re-registration fee is not paid.
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