[Code of Federal Regulations]

[Title 14, Volume 1]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR49.55]



[Page 928]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION

 

PART 49_RECORDING OF AIRCRAFT TITLES AND SECURITY DOCUMENTS

--Table of Contents

 

Subpart E_Encumbrances Against Air Carrier Aircraft Engines, Propellers, 

                       Appliances, and Spare Parts

 

Sec. 49.55  Recording of releases, cancellations, discharges, and 

satisfactions: special requirements.



    (a) A release, cancellation, discharge, or satisfaction of an 

encumbrance on all of the collateral listed in an instrument recorded 

under this subpart, or on all of the collateral at a particular 

location, must be in a form equivalent to AC Form 8050-41, signed by the 

holder of all of the collateral at the particular location, and contain 

a description of the encumbrance, the recording information furnished to 

the holder at the time of recording, and the location of the released 

collateral.

    (b) If the encumbrance on collateral at all of the locations listed 

in an instrument recorded under this subpart is released, canceled, 

discharged, or satisfied, the locations need not be listed. However, the 

document must state that all of the collateral at all of the locations 

listed in the encumbrance has been so released, canceled, discharged, or 

satisfied. The original recorded document must be clearly identified by 

the names of the parties, the date of recording by the FAA, and the 

document number.



[Doc. No. 1996, 29 FR 6486, May 19, 1964, as amended by Amdt. 49-1, 31 

FR 4499, Mar. 17, 1966; Amdt. 49-7, 37 FR 25487, Dec. 1, 1972]