Code of Federal Regulations

Title 14 - Aeronautics and Space
Volume: 1Date: 2020-01-01Original Date: 2020-01-01Title: Section § 49.45 - Recording of releases, cancellations, discharges, and satisfactions: special requirements.Context: Title 14 - Aeronautics and Space. CHAPTER I - FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION. SUBCHAPTER C - AIRCRAFT. PART 49 - RECORDING OF AIRCRAFT TITLES AND SECURITY DOCUMENTS. Subpart D - Encumbrances Against Specifically Identified Aircraft Engines and Propellers.
§ 49.45 Recording of releases, cancellations, discharges, and satisfactions: special requirements. (a) A release, cancellation, discharge, or satisfaction of an encumbrance created by an instrument recorded under this subpart must be in a form equivalent to AC Form 8050-41 and contain a description of the encumbrance, the recording information furnished to the holder at the time of recording, and the collateral released. (b) If more than one engine or propeller, or both, are listed in an instrument, recorded under this subpart, that created an encumbrance thereon and all of them are released, they need not be listed by serial number, but the release, cancellation, discharge, or satisfaction must state that all of the encumbered engines or propellers are released. The original recorded document must be clearly identified by the names of the parties, the date of FAA recording, and the document date. [Doc. No. 1996, 29 FR 6486, May 19, 1964, as amended by Amdt. 49-7, 37 FR 25487, Dec. 1, 1972]