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Horse Share Loan Agreement

9. Who pays for what – and if the horse must be insured (this should be stated in the contract), who pays the deductible? The credit agreement should specify what is expected of the horse owner and the borrower. Make sure it is clearly dated and signed by all parties and contains: It is important that both parties write down what has been agreed, but better yet – sign a horse share or loan agreement – Contact equestrian law specialist Clare Towers at DFA Law for a free copy of our horse credit agreement. clare.towers@dfalaw.co.uk A credit or a share of equine credits can work very well if both parties get along well and do what they should do as responsible owners or shareholders. Problems often arise when the parties have different opinions on the welfare needs of the horses or when one party wishes to terminate the agreement, if the other is not prepared for it. 2. The contact details of the owner and the borrower as well as confirmation that the parties will inform each other if they change. This standard contract for horse shares is for guidance purposes only and legal advice should be sought to ensure that any contract is legally binding. 3. A simple explanation that the owner is the rightful owner of the horse and has the right to have the horse borrowed. 4. Details of where the horse is to be kept. The contract should be informed in advance that the owner is informed before the horse moves and that he has the power to check the new farm.

If you want a long-term deal, make sure the potential borrower or actuator is financially guaranteed and is also looking for a long-term commitment. Be open about behavioral or health problems with the horse. It is better to slip a potential borrower/sharer than to risk an early collapse of the deal because the borrower/sharer has bitten more than they can chew. Ventilate (State note) all adhesives, carpets and other equipment included in the loan agreement/shares; Cover from the horse known as: ____ (the horse) Do you want the horse to stay on its current farm? If this is not the case, make sure you are informed of the location of the horse; Be sure to indicate your participation in any important decisions regarding the horse`s health and well-being. Horse owners may end up with a horse they grew up on, but don`t want to sell. In these situations, lending can be the ideal solution, as it allows the owner to keep ultimate control of the horse`s future, while someone else takes care of the daily work and care costs. In order to minimize the risk of default of a horse share or loan agreement, you need to consider: 5. Will the person lending the horse pay the loan owner? If so, how much, when and how will it be paid? 7. Advance notice (for example. B four weeks) for the return of the horse if the circumstances of one of the parties change. The law requires that a passport remain with the horse. Therefore, the passport must be kept by the person who has the primary maintenance of the horse if it is not the owner.

If a horse is loaned and transferred to a new farm, the lender must have the original passport. Many homeowners are uncomfortable, but there are a number of steps you can take to protect yourself, including: 10. Define what should happen if the horse is to be put on. Who will make this decision? How quickly should the borrower inform the owner and, if he is unable to reach the owner, can the borrower authorize it? Winter is approaching and with it the concern for the cost of food, litter and hay. The dark nights prevent many, but the lucky few, from getting up after work. The extra costs, the extra work-out and the possibility of not riding as often as you like make many consider borrowing or sharing their horse. If you need advice in the event of a breach of contract, this is considered a civil matter and professional legal advice should be sought.