Equine Lease To Own Agreement

Equine Lease To Own Agreement

Check local laws about buying and selling a horse. See if a brand inspection is needed and check what other health requirements are needed. If a horse moves out of state, check if it has had a coggins test. To protect the interests of both the buyer and seller, hire a lawyer who reviews the agreement, as the lawyer can come up with points that neither party has thought of. Once upon a time there was a handshake and an oral agreement that was needed between the buyer and seller. Today, written agreements are the norm in many sales. Horse sales are no exception. Owning a horse is not an easy process and should not be taken lightly. Since the horse always belongs to the seller until the final payment – or any other agreement – the seller must ensure that the horse is cared for according to his specifications.

The buyer who rents the horse until final payment or any other agreement must understand. At the same time, no matter what they do in their contracts, many potential owners want to know that the horse they are buying is healthy. Some also want to know what kind of health problems, if any, the animal has had in the past. Thus, purchase and sale contracts may also contain a statement of the date on which a preliminary veterinary examination must take place and the ability to reimburse a deposit for the animal until the examination. Speaking of boarding, agreements are also essential in determining the expectations of barn operators and horse owners. Whether it`s sales and purchases, leases, or training, Tabor believes owners should exercise caution when choosing or executing a written contract. Check your jurisdiction`s specific requirements for Equine Activity Liability Acts (EALAs). For example, the buyer bears the risks associated with equestrian activities in accordance with the law [of his state]. . . .


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