What is the name of your state (only U.S. law)? Tennessee/Virginia
Hello All. I'm selling an aircraft via a broker. A buyer was found and a purchase agreement was signed between me (seller), broker, and buyer. The buyer wired $ to broker, but it never arrived as it was diverted via a scam. Broker is pessimistic that money (last seen in Hong Kong!) will be recovered. Meanwhile, Buyer is claiming he fulfilled his obligations as he wired the $ to the address provided and so the aircraft is his. He supports this by noting that I earlier signed an undated PDF copy of the official FAA bill of sale form and forwarded it to him on the advice of the broker once the sales contract was signed. Buyer then signed and returned this form to the broker. (It is a pdf copy of a form that is required to be filled out in ink and in duplicate and submitted with a $5.00 fee to the FAA.) Broker says this is not a legal bill of sale as it is not in ink/duplicate per FAA policy. It is just for their records. Buyer says plane is his and he is coming to get it on August 22. I say it is mine and have my bill of sale and aircraft registration to prove it. My stance is that I have received no $ and so still own the aircraft. Am I right?
The sales contract I have with the broker indicates that Virginia law shall govern any disputes. (I live in TN, but the broker is in VA.)
This dispute seems to be between the broker and the seller, and they are trying to determine fault and recover the wired funds. However, I see potential for personal harm here as the buyer thinks he owns the plane and can come and get it.
Thoughts? Thanks!
Hello All. I'm selling an aircraft via a broker. A buyer was found and a purchase agreement was signed between me (seller), broker, and buyer. The buyer wired $ to broker, but it never arrived as it was diverted via a scam. Broker is pessimistic that money (last seen in Hong Kong!) will be recovered. Meanwhile, Buyer is claiming he fulfilled his obligations as he wired the $ to the address provided and so the aircraft is his. He supports this by noting that I earlier signed an undated PDF copy of the official FAA bill of sale form and forwarded it to him on the advice of the broker once the sales contract was signed. Buyer then signed and returned this form to the broker. (It is a pdf copy of a form that is required to be filled out in ink and in duplicate and submitted with a $5.00 fee to the FAA.) Broker says this is not a legal bill of sale as it is not in ink/duplicate per FAA policy. It is just for their records. Buyer says plane is his and he is coming to get it on August 22. I say it is mine and have my bill of sale and aircraft registration to prove it. My stance is that I have received no $ and so still own the aircraft. Am I right?
The sales contract I have with the broker indicates that Virginia law shall govern any disputes. (I live in TN, but the broker is in VA.)
This dispute seems to be between the broker and the seller, and they are trying to determine fault and recover the wired funds. However, I see potential for personal harm here as the buyer thinks he owns the plane and can come and get it.
Thoughts? Thanks!
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