Source: https://www.casa.gov.au/aircraft/civil-aircraft-register/regulations-casr-part-47/other-aircraft-ownership-information
Timestamp: 2019-11-18 06:15:03
Document Index: 650603665

Matched Legal Cases: ['art 47', 'art 47', 'art 47', 'art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2']

Other aircraft ownership information | Civil Aviation Safety Authority
Registration for multiple owners of aircraft (joint legal owners)
If there are several owners of an aircraft, they must decide who will become the registration holder. The nominated person must declare on the application form that the aircraft is owned by more than one owner and that he/she has been duly appointed to act on behalf of all owners. The names and/or details of the additional owners are not recorded in the Register or noted by CASA.
This should not be seen as giving a greater right of ownership to the owner named as registration holder. Part 47 clearly states that an entry in the Australia Civil Aircraft Register in relation to an aircraft is not conclusive evidence of the existence of a legal or beneficial property interest in the aircraft. It also states that a certificate of registration for an aircraft is not conclusive evidence of the existence of a legal or beneficial property interest in the aircraft.
For leased aircraft
Depending on contractual arrangements, the sole legal owner (the lessor) may become the registration holder under Part 47, even if the lessor is a financial institution. It is the registration holder's responsibility to nominate a registered operator. The registered operator must be an eligible person in accordance with CASR 47.010 and accept the responsibility for the continuing airworthiness and maintenance control of the aircraft.
Even if the registration holder is a financial institution with no connection to aviation they remain responsible for all the regulatory matters which place responsibility on the holder of this position.
Partnerships cannot be registration holders or registered operators under Part 47 as they are not legal entities. Equally, they do not fit within the definition of an 'eligible person' under CASR 47.010.
The parties involved in a partnership will need to discuss the situation, come to a decision and nominate one of their group to be the registration holder. The registration holder must then nominate the registered operator.
A trust cannot be a registration holder or registered operator for an aircraft. A trustee will be noted as the registration holder on behalf of a trust, provided a copy of the Trust Deed is provided at the time of application. The registration holder would then be noted as 'Robert Smith as trustee for the Smith Family Trust'.
Trusts will not be recorded as a registered operator.
Should a trustee change, it will be necessary to lodge a Form 027 Part 1 - Transfer of Ownership and Form 027 Part 2 - Application by New Owner to become the Registration Holder in order to effect the change.
Other ownership scenarios
There are other, more complex ownership scenarios which have not been dealt with here. If you would like to discuss your specific situation, please contact the Registrar - Australian Civil Aircraft by emailing aircraftregistrar@casa.gov.au or phone on 131 757.
Transfer of ownership/asset – dates
When notifying of a transfer of ownership of an aircraft as the former owner and registration holder (by submitting Form 027 Part 1 - Notice of Transfer of Ownership (pdf 119.47 KB)) or applying as the new owner to become the registration holder (by submitting Form 027 Part 2 - Application by New Owner to become the Registration Holder (pdf 198.25 KB)), enter the date that the transfer of ownership was finalised in the appropriate section of the form. This is the date of the completion of the asset transfer, for example:
If the title transferred upon financial settlement:
and if the aircraft was paid for by cheque, the date the cleared funds were deposited in the seller’s account
and if the aircraft was paid for in instalments, the date the final payment was received by the former owner
The date that the terms of a contract were met – if a contract was in place that stipulated that the asset transfer would be complete when a particular event happened, irrespective of when the financial transfer was completed, that would be the date of asset transfer. Examples of a specific event might be the physical delivery of the aircraft or the completion of particular maintenance. In some cases you may be asked to provide evidence of the contract terms.
If the ownership of the aircraft was transferred from one entity to another without any money changing hands, the date that the asset transfer was completed (for example, asset transfer within company structure)
In the event of asset repossession, if the entity repossessing actually assumes ownership of the asset as opposed to having the legal right to repossess and on-sell without becoming the owner, include the date the asset transfer occurred. Note, that if an aircraft is repossessed without ownership transfer it would still be necessary to change the registered operator if the registered operator was no longer responsible for the continuing airworthiness and maintenance of the aircraft.
If an aircraft is owned by more than one entity and the change signifies a change of the entity nominated as registration holder only (rather than the sale or transfer of an asset), include the date the change of registration holder is to be effective from but ensure you include a covering letter explaining the process.
If a partial asset transfer has occurred (eg the asset goes from having one owner to multiple owners, but the original owner maintains a portion of ownership and will remain as registration holder), there is no requirement to notify CASA of the change. If one of the new owners is to become the registration holder, Forms 027 Part 1 and Part 2 must be lodged. Include the date the change of registration holder is to be effective from but ensure you include a covering letter explaining the process.