22 Sep Horse Free Lease Agreement With Option To Purchase
«Regardless of the contract, the barn owner is responsible for the maintenance of the horse or a violation of local animal cruelty law,» says Tabor. If you own a horse or simply want to rent that animal, the horse lease must be prepared. If you have this document, you know that the horse is well maintained and maybe don`t worry about the legal side. The document must be signed by both parties. In the absence of one of the signatures, the agreement shall be deemed null and void. Whether it`s sales and purchases, leases, or training, Tabor believes owners should exercise caution when choosing or executing a written contract. Basic boarding contracts generally do not include horse training. However, owners should be aware that trainers often need written contracts for the horses that are in their care, says Arab horse trainer Jill Girardi-Thomas, based in Franklin, Tennessee. These contracts include a description of the training the horse is to receive, training fees and general catering costs when the horse resides on the farm where it is trained. This agreement may be accompanied by documents confirming the ownership of the horse. You may also be asked to attach documents that show the horse`s state of health. Prepare these appendices in advance. Horse information: name, registration number, father, mother, date of foal, sex, color, other details; During this period, the buyer will continue to pay rents in accordance with the agreement of the parties that could go in the direction of the total purchase price of the horse.
If the buyer wants to buy the horse, the buyer pays the purchase price reduced by the number of previous rents. If the buyer decides not to buy the horse, all leasing payments made are kept by the seller. First, you need to date the document that indicates the day it was finalized and signed and by whom. The following information should in principle be included in the agreement: «I spent a few months` rent, but the horse was supplied until it returned home,» Cupolo says. The horse rental agreement can be used if an applicant owns a horse and wishes to rent it to another person. The terms of your agreement must be defined and all aspects clarified. This document has two types. The first is a full-time horse arrangement. In this case, the borrower has full access to the animal during the period set by the parties.
The second type is a rental contract for the joint boarding of horses. Depending on the type, both parties have access to the horse and share financial responsibility for the animal. «The girl rode the horse differently than I did.» Welde says. «It wouldn`t work.» As a rule, the parties enter into a standard rental agreement that sets a monthly payment for the use of the horse. Deadlines may vary from month to year. The parties also have an agreed purchase price for the horse, which the buyer, if the time is right, pays for the horse. To buy the horse, the buyer pays the full purchase price for the duration of the lease….