On October 20, 2001, about 1530 eastern daylight time, a Taylorcraft BC12-D, N43529, was substantially damaged during takeoff from the Farmville Regional Airport, Farmville, Virginia. The certificated flight instructor (CFI) and private pilot were not injured. Visual meteorological conditions prevailed and no flight plan had been filed for the instructional flight conducted under 14 CFR Part 91. The airplane was departing runway 21, a 4,400-foot long, 75-foot wide, asphalt runway. The CFI stated he performed the takeoff, and intended to fly to a local grass strip to provide the private pilot with tail-wheel aircraft instruction. The CFI said he "lost directional control" of the airplane during the takeoff roll, and he elected to allow the airplane to depart the right side of the runway and slow down in the grass. However, the airplane struck a ditch and flipped over, which damaged the vertical stabilizer and rudder. The CFI did not report any mechanical problems with the airplane and he further stated that wind at the time of the accident was light and variable. Additionally, the CFI was seated in the airplane's right front seat, and airplane was equipped with "foot-brakes" at the left front seat pilot station only.