Tomahawk for sale. $9k

[Tom-D]

Thought I'd pass this on


http://www.pacificnorthwestflying.com/index.php?topic=9529.msg81355#msg81355

 

[Jim Logajan]

Thought I'd pass this on


http://www.pacificnorthwestflying.com/index.php?topic=9529.msg81355#msg81355

Man that thing is a rocket at 183 MPH:

http://flightaware.com/resources/registration/N2506G

Interesting name for the LLC owner!

 

[Jim Logajan]

There are two major stumbling blocks to this aircraft.

the A/C is registered to a LLC co. the LLC is defunk, the owner is dead and the widow has no authority to sell the LLC's assets.

that can be fixed. but it will take time &$

the registration has expired. the widow paid the registration fee in 2010, but never received the new registration. now a whole year has passed.

I'm more familiar with C corporations, but I did not think an LLC would become defunk simply because the (presumably only) owner dies. I would think community property law would make the widow the new owner.

 

[Jim Logajan]

In Wa. the LLC is re-newed year by year, if not re-newed it simply disappears from records.

Wa is not a probate state, we are a community property state.

these problems are fixable, but don't count on that being done quickly.

Well according to Washington State corporation database, "TOMAHAWKS BLUE LIGHT SPECIAL LLC CO." hasn't disappeared from the records and is an active and perpetual LLC through at least the end of this month:

http://www.sos.wa.gov/corps/search_...ia=all&name_type=contains&name=tomahawks&ubi=

 

[Jim Logajan]

My old LLC is still in data base too, doesn't make it usable.

when the only name on the LLC's records is dead, who can sell the assets?

The widow must prove to the FAA she inherited, that rite. To do that she must take her marriage license, his death certificate, and prove there was no divorce or will changing the inheritance.

Having both incorporated and later dissolve a California C corporation, I'm always interested in how I would resolve these things if left to my resources. The outline seems to be this (I'm missing points and details since I spent all of 15 minutes research on this):

The first step would appear to be for the widow to assume ownership or management of the LLC, which involves paperwork with the state of Washington.

According to this FAA document (http://www.faa.gov/licenses_certificates/aircraft_certification/aircraft_registry/media/LLCINFO.pdf) the second step is for the LLC's management to inform the FAA of that management change: "If the management of the L.L.C. changes at a later date (e.g., originally managed by the members, but now by a manager), the Registry must receive written notice of the change. This may be submitted in the
form of a written statement, a copy of minutes of a meeting, an amended operating agreement, etc. The submitted document must explain any changes or additions made and give the effective date of those changes or additions."

Third step appears to be for the new manager to sell or transfer ownership of the airplane to either the widow or a prospective buyer. Then send the bill of sale with the aircraft registration form showing the new owner to the FAA. (Side issue is the triggering of a taxable event with the IRS and WA state.)

Sorry for the thread drift....