Retention, Trade, Sale, or Disposal of Aircraft by Airport Authority

  1. Law
  2. Tennessee Code
  3. Property
  4. Abandoned or Unclaimed Property
  5. Derelict or Abandoned Aircraft
  6. Retention, Trade, Sale, or Disposal of Aircraft by Airport Authority

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  1. If, after thirty (30) calendar days of the owner or other interested party receiving the notice or after thirty (30) calendar days of posting the notice on the aircraft, the owner or other interested party has not removed the aircraft from the airport and paid in full all accrued fees and charges for the use of the airport and for the transportation, storage, and removal of the aircraft, or shown reasonable cause for the failure to do so, the airport authority may:
    1. Retain the aircraft for use by the airport, the state, or the unit of local government owning or operating the airport;
    2. Trade the aircraft to another unit of local government or a state agency;
    3. Sell the property; or
    4. Dispose of the property through an appropriate refuse removal company or a company that provides salvage services for aircraft.
  2. If the airport authority elects to sell the aircraft in accordance with subdivision (a)(3), the aircraft shall be sold at public auction after giving notice of the time and place of sale, at least ten (10) calendar days prior to the date of sale, in a newspaper of general circulation within the county where the airport is located and after providing written notice of the intended sale to all parties known to have an interest in the aircraft.
  3. If the airport authority elects to dispose of the aircraft in accordance with subdivision (a)(4), the airport authority shall be entitled to negotiate with the company for a price to be received from the company in payment for the aircraft, or, if circumstances so warrant, a price to be paid to the company by the airport authority for the costs of disposing of the aircraft. All information and records pertaining to the establishment of the price and the justification for the amount of the price shall be prepared and maintained by the airport authority.
  4. If the sale price or the negotiated price is less than the airport authority's then current fees and charges against the aircraft, the owner of the aircraft shall remain liable to the airport authority for the fees and charges that are not offset by the sale price or negotiated price.
  5. All costs incurred by the airport authority in the removal, storage, and sale of any aircraft shall be recoverable against the owner of the aircraft.


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