Security Deed. A security deed is a conveyance of land to secure a debt. A security deed, as opposed to a mere mortgage, passes legal title to the land while reserving unto the debtor the equitable title to use and enjoy the conveyed land subject to compliance with debt obligations. Security deeds must be recorded in the county where the land is located. Although there is no specific time within which such deeds must be filed, the failure to timely record the deed to secure debt may affect priority and therefore the ability to enforce the debt against the subject property.
(Lear 31a 12 year completed by Spectra Jet). Aircraft NDT Services shoot cockpit x-ray's on a Learjet 35 for 12 year inspection. They complete all the X-ray and Eddy Current items in two days, and provide a preliminary report so work can continue.
The annual inspection should run around $1,000 per year although if something needs to be fixed it will be more. One disadvantage of aircraft ownership is you will want to fix your airplane when the mechanic informs you he needs $5,000 to repair it.