Damage history can significantly decrease the value of any aircraft, but it particularly affects newer aircraft. Damage history should be scrutinized to ensure repairs have been made in compliance with FAA regulations and recommended practices. AOPA suggests that members also order FAA forms 337. No matter how comprehensive, no title search can completely eliminate the possibility of a challenge to clear title. That is why anyone purchasing an aircraft should consider title insurance as an important element in the transactions and why AOPA Title Service makes title insurance available as part of its comprehensive package of buyer protection services.
Title insurance provides the potential buyer with an additional measure of security.
If a claim against the aircraft surfaces after you purchase it , it can be expensive and time consuming to defend against the claim. Legal fees may exceed the amount of the claim, and you have to pay your attorney even if the claim is determined to be invalid. Even worse, the claim may be valid, and you will have to pay off the lien and pay the attorney's fee. With limited exceptions, title insurance can prevent this financial disaster. For any covered claim, title insurance will provide the legal fees for defense of the claim.