Having just sold an experimental airplane I built, here is what I learned about the legal aspects of the sale.
1. The builder can not escape the potential liability of having built the airplane. Liability waivers are held "not in the interest of the public" and are not worth the paper they are written on. The waiver is somewhat of a barrier from the buyer, but none at all from third parties, like his wife or children.
2. The wording of a contract can make it difficult to file suit, but if money is sniffed out by a lawyer, he will go for it. If the builder has nothing, he is not likely to be sued. If he committed fraud or gross negligence, he could go to jail.
3. Selling parts is slightly less risky than the whole airplane.
4. The FAA has no interest in the buying and selling experimental airplanes except that they be properly registered. Maintenance is cut and dried. The annual condition inspection must be signed off by the original builder (if he holds a repairman certificate) or an A&P.
5. It is possible to recertify an experimental airplane from parts with the new owners name on the data plate. Whether or not that person would be eligible for a repairman certificate is unknow.
dd