Welcome to PhantomPilots.com

Sign up for a weekly email of the latest drone news & information

Can I sell my 333 Exemption to another party?

Discussion in 'General Discussion' started by Tiltedhorizon, Oct 22, 2015.

  1. Tiltedhorizon

    Joined:
    Oct 16, 2015
    Messages:
    6
    Likes Received:
    4
    I have yet to see someone ask this question. I am going to assume the exemption can not be sold since it is in my company name, but I could sell my company and it's assets which include the exemption to another company and then technically they can legally use it as long as they adhere to the specific's listed in my 333. Is this line of reasoning correct?
     
  2. LuvMyTJ

    LuvMyTJ ADMINISTRATOR
    Staff Member

    Joined:
    Feb 9, 2014
    Messages:
    6,811
    Likes Received:
    4,374
    Location:
    Live! From New York!
    My guess would be no as I doubt they are "transferable". I would ask the FAA directly to get an accurate answer.
     
  3. Chad Nuttall

    Joined:
    Oct 7, 2015
    Messages:
    31
    Likes Received:
    12
    If the 333 is in a company name, you can sell the company
     
  4. IOIIOOO

    Joined:
    Aug 17, 2015
    Messages:
    45
    Likes Received:
    38
    Location:
    Central Iowa
    Set up an LLC, get the 333 in the LLC name, sell the LLC.
     
  5. LuvMyTJ

    LuvMyTJ ADMINISTRATOR
    Staff Member

    Joined:
    Feb 9, 2014
    Messages:
    6,811
    Likes Received:
    4,374
    Location:
    Live! From New York!
    You can only sell an LLC if it is not a single entity. A single entity is treated like a DBA. I still don't think you could transfer a 333 exemption in this way but I have been wrong before... lots of times! :D
     
  6. fly_it

    Joined:
    Aug 31, 2015
    Messages:
    70
    Likes Received:
    24
    Location:
    Zhengzhou, Henan, China
    I'm not a lawyer, but I would guess that the exemption could stay with the business because it was issued to the business. I would just make sure that the granted exemption and petition don't have you mentioned as the sole operator.

    I'm going to submit two separate exemptions... one for myself as an individual and one for an LLC that I will be starting. That way if my brother gets his pilot's license, he can start flying his Phantom for the business as well. He already has a Phantom but just uses it for recreation.