The National Business Aviation Association warns that a continuation of the strong market for sales augurs that aircraft registration backlogs are likely to continue into 2023. The FAA Civil Aviation Registry in Oklahoma City, Oklahoma, is expected to experience delays of up to six months for registering a newly purchased aircraft, according to the trade group. And the delays affect all aircraft buyers, not just business jet shoppers.
Scott McCreary, aviation group leader for McAfee & Taft and a member of the NBAA’s Tax Committee, said, “People should reach out immediately to their title companies and law firms assisting them and make sure all their documentation is in order. Even a small mistake may cause longer delays in the processing of documents and the registration of the aircraft.”
NBAA further warns, “Transactions may also involve changing the aircraft’s current registration number, with the sale paperwork reflecting the new registration.” McCreary added, “That process may take anywhere from six months to a year, and there’s really no way to expedite that. All sides must plan accordingly.”
