Disclaimer: This article is strictly for educational purposes, and should not be used or relied upon as legal guidance or advice. It is highly recommended that you retain legal counsel prior to entering into any transaction related to aircraft or aircraft components.
As one of the largest hubs for private aircraft, New Jersey offers several benefits to lenders and borrowers who finance or leverage aircraft or aircraft components (hereinafter “Aviation Assets”). However, to fully recognize these benefits, it is critical to understand the process for perfecting a secured interest in Aviation Assets. This article discusses (1) the interaction between United States federal laws and New Jersey state laws, (2) the rise of aircraft mechanic’s liens, and (3) best practices to ensure that all parties realize their intended contractual objectives.
Click link for printable version and complete article – Perfecting a Secured Interest in Aircraft in New Jersey.pdf