Protection when you sell a plane?

[bluesideup]

Hi everyone.
What are some of the things that you Must include in a contract / agreement with the Dealer, someone that takes the plane somewhere else, to sell it.
It would appear that most of the dealers want to take no responsibility at all for the plane. Everything has to be done by the seller, Insurance, release of the acft and the dealer not responsible, for any damage, fire... basically can total the plane and have no carry responsibility for you plane.
What is the protection that a seller must take to make sure that the owner may not lose more than just the plane in case something happens?
Things like Insurance, maintenance, have the dealer pay for any of it, after it gets removed?
Thank you.

 

[Ventucky Red]

Did you sell the plane to a dealer, that is trade it in etc.....

 

[frfly172]

Keep possession of the logs. No free rides while under contract.

 

[bluesideup]

Did you sell the plane to a dealer, that is trade it in etc.....

No, just a Consignment agreement.

Keep possession of the logs. No free rides while under contract.

Yes, that is a good idea but it looks like they want the logs.

Does anyone know how the Insurance... works in case of an accident?
Should the dealer / broker have their own and if true how much? ....
Thanks

 

[TCABM]

…Does anyone know how the Insurance... works in case of an accident?..
Thanks

Read your policy or call your broker?

…..
Should the dealer / broker have their own and if true how much? ....
Thanks

Should is subjective. What does the consignment agreement say about the responsibilities of each party?

Until both parties sign the agreement, it’s a draft contract. Maybe have a legal or risk review of the agreement completed.

 

[bluesideup]

Read your policy or call your broker?

Hi.
Yes, I understand that if you give permission you My be covered? To what extent, is the problem. Many companies will have restrictions to who can fly, does the individual need to be added to the policy... and that is not specified.
Thanks.