I just purchased an aircraft and have the Bill of Sale form signed by the seller. I understand that I need to submit the bill of sale (AC 8050-2) along with AC 8050-1 form to complete the registration.
The seller of the aircraft wants to keep the N number. I requested a new N-Number from the FAA website and the reservation is still pending. I see that the N-Number change is done using a letter to FAA requesting the change as described in https://www.faa.gov/licenses_certificates/aircraft_certification/aircraft_registry/special_nnumbers
What is the correct order of submissions in this scenario? Do I send the registration form (AC 8050-1 with Bill of Sale 8050-2) AND the letter requesting N-Number change together? If yes, do I use the old or the new N number in the form AC 8050-1? Also, how do I make sure the old N-number is reserved back to the seller?