P51Mstg wrote:
What about a privately owned airplane that's been abandoned for some time on public land, is there any statue of time limitations where anyone who wants it can get it?
My guess is (based on what I've learned in law school back in the olden days), it still belongs to the owner... You can give better title than the title you are given.... Hence something that is stolen will always be stolen. So if you can get the title from the owner, then you can own it.
The only other way to get title would be adverse possession. Through AP, you recover the airplane (in the open, not in secret) so the world knows its been recovered. Then basically hold it for 21 years, file a lawsuit and claim title. The suit would perfect your title so that based on the court decision the FAA could show clean title to you...
We occasionally see stories in the paper about some finding a stolen (car, guitar, etc) they lost 30 years ago. They get it back... Well if an insurance company has paid off on it, they exchange their check for the title to the item and YOUR position to recover damages. So actually it belongs to the insurance company.
Saw an episode of Pawn Stars one night, they bought something that was "stolen"... Then they found out the insurance company paid off on it so it was OK to keep it... WRONG... Now it belongs to the insurance company...
Mark H
Probably a bit more complicated than that, or less complicated. Abandoned property statutes vary from state to state, so if a wreck is on your property and not recovered at the time of the incident you may be able to claim ownership in as little as 90 days.
Not all states issue a title for aircraft, or may not have at the time of the wreck. The FAA has been purging their registration records, so anything gone longer than three years now won't be in their listings anymore.
If the wreck was already on property that you purchased, then your title insurance company might have to get involved to pay off any claims arising from the find.