"Break in chain of title"?

[J0nathan225]

@hammdo 's insurance whoas got me rethinking an issue that came up at my closing of 93GG.  I don't plan on selling anytime soon (ever?), but wondered if this is really an issue?

From Aerotitle:

COLLATERAL DESCRIPTION:

N93GG, MOONEY M20E, SERIAL NUMBER 385

REGISTERED OWNER: Distinguished Aviator’s Flying Club, LLC

8107 138th Avenue NE, Redmond, WA 98052-1924

REGISTRATION TYPE: Corporation

SIGNED BY / TITLE: Lawrence C. Freer, III, Member

ACQUIRED BY: Bill of Sale executed 08/10/12, filed 08/16/12, recorded 01/07/13

As Conveyance No. TM015313

REGISTRATION DATE: 01/07/13

EXPIRATION DATE: 07/31/22

PREVIOUS OWNER: Lawrence C. Freer, III

15411 4th Ave. SW Apt. 11, Burien, WA 98166

REGISTRATION DATE: 01/14/09

SUBJECT TO: No Liens of Record

The Bill of Sale transferring ownership from Lloyd E. Perkins to Charles W. Patterson appears to be a break in the chain of title. The Bill of Sale dated 09/19/89, filed 09/28/89, recorded 10/25/89 as Conveyance No. R42346 was signed by Lloyd E. Perkins not Lloyd E. Perkins, Sr., the registered owner.

This search is subject to the filings reflected on the index of collateral provided by the Federal Aviation Administration aircraft records division in Oklahoma City, Oklahoma. AEROtitle assumes no responsibility as to the accuracy of said source, and does not guarantee, insure, or warrant that said FAA index is free of error.

Examined by: Chance

 

I'll upload a side by side picture of the 2 signatures shortly.  I don't fully understand the process, but is this an interpretation from Aero title or the FAA? Any real issues in the future? My lender and all parties involved agreed that the signature is the same person, but does the FAA still see this as an issue or is this the overly particular opinion of the title search employee "Chance"?

 

 I did a lot of searching during the sell,  but both parties and next of kin from above appear to longer be living.

 

[J0nathan225]

[Rwsavory]

It looks to me like the title company is just covering themselves.  Not an FAA issue.  For better or for worse, the FAA does not determine title issues.  
 

And speaking of covering yourself, this is not legal advice.  ; )

[hammdo]

Check the FAA registrations - if you’ve done a title search, you should be good. Bill of Sale is necessary for registration to prove ownership.

[J0nathan225]

32 minutes ago, hammdo said:

Check the FAA registrations - if you’ve done a title search, you should be good. Bill of Sale is necessary for registration to prove ownership.

I believe that's all straight, I got the new registration with my name on it back in Dec, 5 months after purchase and submission.

[amillet]

I occasionally have clients tell me their  name is ****, Sr.  I ask them if that is what their birth certificate reads.  No affirmative answers yet. 

[Ragsf15e]

2 hours ago, J0nathan225 said:

@hammdo 's insurance whoas got me rethinking an issue that came up at my closing of 93GG.  I don't plan on selling anytime soon (ever?), but wondered if this is really an issue?

From Aerotitle:

COLLATERAL DESCRIPTION:

N93GG, MOONEY M20E, SERIAL NUMBER 385

REGISTERED OWNER: Distinguished Aviator’s Flying Club, LLC

8107 138th Avenue NE, Redmond, WA 98052-1924

REGISTRATION TYPE: Corporation

SIGNED BY / TITLE: Lawrence C. Freer, III, Member

ACQUIRED BY: Bill of Sale executed 08/10/12, filed 08/16/12, recorded 01/07/13

As Conveyance No. TM015313

REGISTRATION DATE: 01/07/13

EXPIRATION DATE: 07/31/22

PREVIOUS OWNER: Lawrence C. Freer, III

15411 4th Ave. SW Apt. 11, Burien, WA 98166

REGISTRATION DATE: 01/14/09

SUBJECT TO: No Liens of Record

The Bill of Sale transferring ownership from Lloyd E. Perkins to Charles W. Patterson appears to be a break in the chain of title. The Bill of Sale dated 09/19/89, filed 09/28/89, recorded 10/25/89 as Conveyance No. R42346 was signed by Lloyd E. Perkins not Lloyd E. Perkins, Sr., the registered owner.

This search is subject to the filings reflected on the index of collateral provided by the Federal Aviation Administration aircraft records division in Oklahoma City, Oklahoma. AEROtitle assumes no responsibility as to the accuracy of said source, and does not guarantee, insure, or warrant that said FAA index is free of error.

Examined by: Chance

 

I'll upload a side by side picture of the 2 signatures shortly.  I don't fully understand the process, but is this an interpretation from Aero title or the FAA? Any real issues in the future? My lender and all parties involved agreed that the signature is the same person, but does the FAA still see this as an issue or is this the overly particular opinion of the title search employee "Chance"?

 

 I did a lot of searching during the sell,  but both parties and next of kin from above appear to longer be living.

 

I have almost the exact same issue on my title search from the same title search folks.  The name is really close but not exact.  Mine is from about 1988.  It’s changed hands 6 or 7 times since then and I don’t expect it to be an issue when I finish taking care of her.

[FloridaMan]

You don't become a Sr. until you have a kid, right? My M20F was repossessed in 1970 and while the certificate of repossession states it releases everything, there wasn't an explicit release certificate in the history and it made financing impossible, so I took out title insurance and paid cash. All statutes of limitations are long gone and all associated parties are likely deceased by now, but I still took out insurance with this issue known just to be safe.