Convention on the International Recognition of Rights in Aircraft
- Type: Convention
- Date of signature: 19/06/1948
- Place of signature: Geneva, Switzerland
- Depositary: International Civil Aviation Organization (ICAO)
- Date of entry into force: 17/09/1953
What is it about?
This instrument recognizes the following rights related to aircraft: - rights of property in aircraft, - rights to acquire aircraft by purchase coupled with possession of the aircraft, - rights of possession of aircraft under leases of six months or more, and - mortgages, hypotheques and similar rights in aircraft which are contractually created as security for payment of an indebtedness.
Why is it relevant?
It fosters the harmonization of an international legal system related to the rights in aircraft, in the sense that Contracting States shall not admit or recognise any right as taking priority over the abovementioned rights.