Regulation Text
When a U.S.-registered fractional ownership program aircraft maintained under a CAMP is removed from the list of program aircraft in the management specifications, the program manager must transfer to the purchaser, at the time of the sale, the following records of that aircraft, in plain language form or in coded form that provides for the preservation and retrieval of information in a manner acceptable to the Administrator:
(a) The records specified in § 91.1439(a)(2).
(b) The records specified in § 91.1439(a)(1) that are not included in the records covered by paragraph (a) of this section, except that the purchaser may allow the program manager to keep physical custody of such records. However, custody of records by the program manager does not relieve the purchaser of its responsibility under § 91.1439(c) to make the records available for inspection by the Administrator or any representative of the National Transportation Safety Board.
The short answer
(14 CFR § 91.1441) When a U.S.-registered fractional program aircraft maintained under a CAMP is removed from the program-aircraft list in the management specifications, the program manager must transfer specified maintenance records to the purchaser at the time of sale, in plain-language or acceptable coded form.
Research Notes
Common Questions
Which records must be transferred at the time of sale?
The records specified in § 91.1439(a)(2), plus the § 91.1439(a)(1) records not already covered, transferred in plain-language or acceptable coded form.
“(a) The records specified in § 91.1439(a)(2). (b) The records specified in § 91.1439(a)(1) that are not included in the records covered by paragraph (a) of this section...” — 14 CFR § 91.1441
Can the program manager keep custody of some records after sale?
Yes, the purchaser may allow the program manager to keep physical custody of certain records, but that does not relieve the purchaser of its responsibility to make them available for inspection.
“...the purchaser may allow the program manager to keep physical custody of such records. However, custody of records by the program manager does not relieve the purchaser of its responsibility under § 91.1439(c) to make the records available for inspection by the Administrator or any representative of the National Transportation Safety Board.” — 14 CFR § 91.1441
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