| Aircraft Title Insurance Agency 1140 NW 63rd, Suite 412 Oklahoma City, OK 73116 Phone: 405-843-8231 | Fax: 405-842-2048 |
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September 27, 2006
September 27, 2006
An aircraft title insurance policy is not unlike a land title policy. It can indemnify an owner or lender against actual losses that divest them of their interest in the aircraft.
The best title search or legal opinion can only report problems of record at the FAA. Many title problems, however, are never reported in the public records, and the most thorough title report or legal opinion could never detect them. A forgery, federal tax lien, mechanic's lien, or a bill of sale that is not enforceable due to fraud, duress, lack of capacity or authority and similar defects, are just a few of the reasons that could adversely affect title to your aircraft.
You don't want a problem-whether it occurred long ago or at the closing yesterday--to cause you to lose your aircraft. Even if you fight against a competing claim -- and win --, you don't want to pay expensive attorneys' fees to protect your aircraft against adverse claims. An aircraft title insurance policy from First American is your best protection against a variety of defects that could remain hidden, despite a search of the public records at the Federal Aviation Administration.
For a one-time premium, First American will stand beside you to protect your aircraft; and if you suffer loss due to a covered risk in the policy, First American will reimburse you up to the amount of the policy. In almost all cases, First American will cover the reasonable fees and costs incurred in defending your title.
We are an agent of First American Transportation Title Insurance Company, a subsidiary of First American Title and Trust Company, one of the largest land title companies in the United States. First American is a publicly held company, traded on the NY Stock Exchange under the symbol FAF. With such strong financial backing, you can be assured that your investment is secure.