In theory, you can ask/demand (as terms of the sale) that a purchaser indemnify you of all subsequent liability risk, even that from a third party.  i.e. then the purchaser shoulders the risk of you being sued.

Of course this approach is only as good as the purchaser’s ability to pay any indemnity.  However, this would seem to be pretty effective at stopping a deceased (fatal crash) purchaser’s heirs from suing, since the purchaser’s estate would be obligated to remit any awards back to you as part of the indemnity.

 

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From: Lancair Mailing List [mailto:lml@lancaironline.net] On Behalf Of Bob Smiley

"Contracting out"  is an interesting concept.  It works fine for certain situations inolving only the contracting parties to the agreement. Contracting out fails when other third parties are involved.  You cannot however disclaim any action that by law is an allowed right to the grieved party. ie you cannot contract with someone to give up a constitutional right for example..  Also you cannot absolve yourself for misfeasance or malfeasance or any action that is blatently illegal.  Also "Contracting out" does not relieve you the responsibility of innocent or other third parties who are affected by an accident such as a pasenger, other persons injured on the ground and their family members who are suffering a loss of their spouse or father.   (snip)