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You must never buy an airplane unless the title is clear. Many people donít know how to check the title to an airplane, and some donít bother to find out. Years after the purchase when they go to sell their airplanes, they are shocked to find there is a lien that has not been released that was written years before even they bought the airplane. Suddenly the deal is off because the seller cannot guarantee clear title.
Often banks fail to release liens after loans against the aircraft are paid off. Then those banks are absorbed into larger ones, and it is extremely difficult to find the person who can sign the proper lien release. That is why it is vital that you do a title search before you buy an airplane and insure there are no liens.
If you find yourself in a position where you cannot get a lien released give Great Lakes Aircraft Appraisal a call. We will evaluate the situation for you, locate the proper party whom has authority to sign the release of lien, and get the paperwork completed that will allow you to buy or sell your airplane.
Address: PO Box 785, Union Lake, MI 48387 Phone: (248) 363-3807 FAX: (248) 769-6084
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