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The Lancair Legacy is a development of the Lancair 320 series. There are two versions of the model, the fixed gear Lancair FG and the retractable gear Lancair RG. Other than the FG having a more powerful engine and fixed landing gear, the two aircraft models are the same structure. Both are two-seat, low-wing monoplanes. The single engine piston Lancair Legacy is powered by a Continental IO-550-N engine of 310 hp. The cruise speed at 75% is 240 knots and the stall speed is 58 knots. The empty weight is 1500 lb and the gross weight is 2200 lb.