Hello Forum
I searched this forum regarding Experimental Liability and found a thread back in 2010 that briefly dealt with liability issues.
If all goes as planned, next week I will be owning a Model 4-1200 with a 912S which I have been searching for a long time.
This Kitfox is not being sold by the builder.
I would like to sell my Model 2-950 with a 582 but is it worth the 15-$20,000 return if selling it places me at financial risk since I built the airplane and have the Repairman Certificate.
I tried for years to get a friend to sell me his RV-6 and he was advised by a Law School Professor here in Oregon that since he had the repairman certificate it could be financial suicide to sell the plane.
Is that true?
If so, many builders must be at risk when they sell there Kitfox's or any experimental.
I am quite sure my Kitfox does not have a permanent stamping that identifies that fuselage.
If it did it could easily be removed.
What keeps me from removing the pop riveted on placard and N-numbers that link me to that aircraft and then the new owner would have to re register and fly off a new 40 hours?
I said the same to the RV-6 owner and he said he could easily be linked to that aircraft by the serial numbers on the engine and prop.
I bought the IVO prop new but not the 582.
Seems like there was a discussion recently where some one wanted to buy a Kitfox or Avid that did not have N-numbers or FAA registration.
Makes me wonder if it did at one time and the owner removed anything linking him to ownership for liability reasons.
At one time I considered donating it to a College Flying program that wanted to use it for basic aircraft systems instruction and it would never fly again.
I will appreciate your advice.
Thanks
Herman