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Bill of Sale
Create a legally binding Indiana drone bill of sale. Comply with FAA Part 107 and Ind. Code § 32-21-1-1 requirements for sUAS, LiDAR, and payload transfers.
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In Indiana, transferring high-value UAS assets requires more than a handshake. Per Ind. Code § 32-21-1-1 (Statute of Frauds), transactions over $500 must be in writing to be enforceable. For drone... Read more
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[Item Description]
[FAA Registration Number and Airframe Serial Number]
[Payload Details (List LiDAR, Gimbals, Sensors, or specialized optics by Serial Number)]
Clearly identifies the buyer and seller by full legal names and contact information. Essential for establishing the parties involved in the transaction.
Provides a detailed description of the item being sold, including make, model, serial number, or other unique identifiers. Necessary to avoid ambiguity and disputes about what was sold.
States the agreed purchase price, any deposits, and the terms of payment. It is crucial for evidencing mutual consent on the financial transaction.
Outlines any warranties provided by the seller or the disclaimer of any warranties ("as-is" clause). This section protects the seller against future claims by the buyer and informs the buyer of their rights.
Sellers typically confirm that they are the legal owner of the item and that it is free from liens or claims. Confirms the seller's right to sell the property and the buyer's acceptance of the item's condition.
Details that the buyer accepts the current condition of the item and agrees to the terms of the sale. Critical for confirming buyer's understanding and acceptance.
Specifies which state's law will govern the interpretation and enforcement of the bill of sale. Important for determining the jurisdiction in case of legal disputes.
Provides spaces for both parties to sign and date the document. Necessary to confirm agreement and consent from both parties.
Some states require the document to be witnessed or notarized for certain transactions, especially those involving high-value items or where required by state law. Adds an extra layer of authenticity.
In Indiana, transferring high-value UAS assets requires more than a handshake. Per Ind. Code § 32-21-1-1 (Statute of Frauds), transactions over $500 must be in writing to be enforceable. For drone pilots, a Bill of Sale does more than record a price; it formally transfers the chain of title for FAA registration, clarifies the 'as-is' status of sensitive hardware like gimbals or LiDAR sensors, and protects you from liability regarding the buyer's future flight operations or privacy violations under the Indiana Deceptive Consumer Sales Act.
Yes. While the FAA manages the Part 107 registry federally, they require proof of a legal transfer of ownership to deregister the seller and register the buyer. An Indiana Bill of Sale provides this evidence and satisfies Ind. Code § 32-21-1-1 requirements for the sale of goods over $500.
Your Bill of Sale should include a 'Description of the Item Sold' that lists the serial numbers for both the airframe and the specific sensors or gimbals. This prevents disputes regarding the scope of work or data services tied to the hardware and ensures the buyer acknowledges the condition of calibrated equipment.
The Bill of Sale includes a 'Buyer’s Acknowledgment' clause where the buyer accepts the current condition of the UAS and assumes all future liability. This is critical for mitigating risks related to future airspace or privacy violations once the drone leaves your control.
Provided your Bill of Sale contains a clear 'Warranties and Disclaimers' section (an 'as-is' clause), the risk of loss passes to the buyer upon signing. Without this, you could be vulnerable to claims under the Indiana Deceptive Consumer Sales Act if the buyer alleges undisclosed mechanical defects.
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