Quote Originally Posted by aviator79 View Post

The fact that you couldn't sell it is laughably ridiculous. Pick up any issue of Trade-a-Plane and look at how many Van's planes are for sale. Homebuilts are bought and sold all the time, and if you had a Kitfox to sell today, it would probably be sold tomorrow. It is true that there is no bulletproof way to insulate yourself from post-sale liability, as if someone sued you, it would ultimately be up to a court to decide. However, the practical reality is that this doesn't happen. EAA has not heard a single reported instance of an amateur builder successfully being sued.
Brian,
First a question then a couple of stories:

The question - How do you define "successfully"?

Story 1 - I am a retired dentist, I was "unsuccessfully" - as I presume the word is used, sued twice in 40 years. Both times, I was exonerated. However, thankfully, I had malpractice insurance that covered all legal expenses.

Story 2 - A good friend and nearby Model V builder once developed a residential air park with 5 acre parcels surrounding an improved air strip. One of the persons who purchased a parcel and flew there had a wife who was into horses. It didn't take long for her to start making noise about the aircraft noise that disturbed her horses. She made demands that limits on flying hours or certain noise restrictions be instituted. These were rejected which prompted a law suit. As Leo told me the story, he had few financial resources at this time to defend himself against the lawsuit so he "Walked away".

I am not trying to be argumentative, but would seriously like a definition of the word "successful" as used in these very frequent commentaries. For me, at least, it would be much more informative, if some data was available regarding the number of lawsuits that have been "unsuccessfully" filed and the typical cost of "successfully" defending them. I write this because I am getting along in years with some fairly common physical issues that might require me to focus my energies on something else in the not too distant future and I think of the issue a lot. In other words, would the $35,000 my Model IV is likely worth on today's market be worth the risk of possibly losing a significant portion of that or possibly more in "successfully" defending a lawsuit.