FAA transfer of ownership costs $5 (five dollars) Then you have to pay an additional $5 every three years to maintain the registration. A lot of people were not happy when FAA introduced the periodic $5 payment, figuring it will only go up, and they may be right. But for now, $1.67 (one dollar and sixty seven cents) per year is considered a reasonable burden by most people.
When I bought my plane in 2010 I forgot to enclose the $5 payment. I must’ve been in a hurry or just brain dead that day. After a while when no registration appeared in the mail, I called the registration office in Oklahoma City and spoke to the lady there. She put me on hold and came back saying “I found it on my desk, I was going to call you. If you send $5 to my attention it should be here in three days. Since you called me, I’ll start processing it now” 
Note that the OP is a US citizen so no Trust needed.
Also it is true that the N route is a lot less attractive today but by the time the various details are taken into account in the real scene on the ground, it is mainly due to peripheral factors e.g. US checkrides have been really problematic for more than 10 years, and more recently the written exams need a trip to the US also. And now we have the constant threat from EASA requiring EU licences if the operator is based here… that one will affect the OP too. The N route has been popular with time poor cash rich individuals and these get hit hard by the exam and licensing hassles.
So EASA has made a few things easier, on paper but often disregarded by the industry, while putting up roadblocks for anyone wanting to use that route.
I am definitely staying N since I see the benefits every time the plane has to be touched. I am ELA2 BTW, 1400kg.
Dont you need to get an additional EASA PPL to fly an EASA registered airplane? What about the Instrument rating?
All, Again thank you for the kind inputs!
One more question…does anyone know if the exhaust system must be modified even if maintain N-registry? We were introduced to someone here that did a EU to US modification on a BE36 and still has the EU parts and is willing to do the modification (for a fee of course). However, we didn’t want to modify something if it is not necessary.
Blue skies,
~ Jill
Are the lower noise bolt-on exhausts a legal requirement anywhere in Europe, or are they just desirable for lower landing fees, or perhaps required to operate in some airfields?
The latter, you get cheaper landing fees.
There is really no need to do any modifications to your exhaust system. Ours on our n-reg Mooney based in Europe is completely standard.
Don’t underestimate this Greta business ;))
Noise abatement has nothing to do with fridays for future. You should rather fear grumpy old men complaining about Greta and suing airfields for airplane noise.
