International Registry of Mobile Assets
The International Registry of Mobile Assets defines the priority of interests on airframes, aircraft engines and helicopters. The International Registry permits individuals and organizations to register financial interests in aircraft assets using the MSN (manufacturer’s serial number). Its role is to electronically record international interests in aircraft objects, thereby establishing priority of interests.
The International Registry operates under the legal framework of the Cape Town Convention and the Aircraft Protocol adopted on the 16th of November 2001 at Cape Town. It provides for the registration and protection of ‘international interests’ that are recognized by all ratifying states, with priority being determined on a “first-to-file” basis.
Registration of interests in existing assets serve as a notification mechanism to the user community and are considered to be best practice for owners/agents to protect their financial interest in an asset.
EXETER Reverse 1031 Exchange Services, LLC has a solid working knowledge of the Cape Town Convention and the issues involved with a reverse tax-deferred like-kind exchange of aircraft and aviation related equipment.
For a full description of the legal protections provided by the Convention, please refer to the text of the Cape Town Convention and the Aircraft Protocol.
