(1) Upon the purchase of any aircraft registered in accordance with ORS 837.040, title to the certificate of registration assigned thereto shall vest in the purchaser. Within 10 days after the date of: (a) Purchase, the purchaser shall file with the Oregon Department of Aviation an application to transfer the registration, stating the name and business address of the purchaser, the name of the seller, the registration number assigned to the aircraft, and a brief description of the aircraft as required for an original registration. (b) Sale, the seller shall notify the Director of the Oregon Department of Aviation of the sale with the name and address of the purchaser, registration number assigned to the aircraft and a brief description of the aircraft as required for an original registration. (2) Upon the receipt of the application and the payment of a fee of $15, the director shall transfer the license and registration number to the purchaser, and shall record the transfer. No sale or transfer of any aircraft registered under ORS 837.040 shall be valid without compliance with the provisions of this section. If an aircraft is not registered at the time of purchase, even though the aircraft may have been purchased within the state, new or used, the purchaser shall register it in accordance with ORS 837.040 and 837.045. [Formerly 493.130; 1993 c.741 97; 1997 c.585 6]
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