Opinion ID: 768034
Heading Depth: 2
Heading Rank: 3

Heading: Holders of Recorded Rights

Text: 24 The FAA argues in the alternative that it properly refused to register IAL's aircraft for failure to satisfy the other requirement set forth in its regulation, that is, providing evidence that all holders of recorded rights in the aircraft have been satisfied or that the holders otherwise consented to the transfer. See C.F.R. 47.37(a)(3)(ii). IAL counters that without any indication there are any holders of recorded rights, there is no requirement to be met. IAL never transferred title to the aircraft and, after the conditional sale fell through, the potential purchaser renounced any interest in the aircraft. The FAA received IAL's affidavit of continuous ownership of the aircraft. There is no evidence in the record of any other holders of recorded rights. IAL cannot prove that nonexistent holders of recorded rights consent to the transfer, and the FAA may not predicate its refusal to register IAL's aircraft on this basis.