We’ve reached out to our escrow contacts and have confirmed that the FAA Civil Aviation Registry is indeed back open this morning. However, they are confirming that the backlog is large and it is going to take quite a bit of time before things are back to normal. Below is a note that one of our escrow agents sent along yesterday:
“Please take into consideration that when the FAA reopens, it is not going to be business as usual. They are going to have a terrible backlog of documents that have been mailed in during the time they have been closed, as well as those that will be filed by all of the title companies when FAA reopens. The FAA averages receipt of 3,000 documents a day, so we are probably talking somewhere in the neighborhood of 30,000 documents that will have to be scanned in and indexed in prior to us being able to tell you that there have been no liens filed during the closure and that we can transfer free and clear title to an aircraft. I am guessing it could take as long as 10 days to get all of these documents indexed in, but this is just a guess at this point.”
Regardless of the above, we here at Guardian Jet, and I think the Business Aviation community as a whole, are very happy that we can once again get back to the business of buying and selling aircraft on behalf of our clients.