Horse Part Loan Agreement Template
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. 6. How long will the loan last and what will happen when the loan term ends? Second, it serves as a record of what has been agreed, so it can help avoid any misunderstandings once the credit is in effect and before the problems slip. The use of a formal written document may seem unnecessary between friends, but it is in the interest of both parties, long-term friendship and the horse. 8. What to do with the horse? Indicate all disciplines for which the horse should not be used. 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. First, it can be used for planning. The structure of the agreement forces both parties to think about what is important to them (e.g. B how much care the horse or pony will receive). Tripping through several thousand pounds isn`t the only way to join the wonderful world of horse ownership. The loan is made without the pre-emption fees, but all the benefits are the same.
Ultimately, none of the parties should be afraid to ask questions. It`s much better to know where you are at the beginning of your relationship. 7. Advance notice (for example. B four weeks) for the return of the horse if the circumstances of one of the parties change. 3. A simple explanation that the owner is the rightful owner of the horse and has the right to have the horse borrowed. The BHS creates a free horse credit agreement.
We do not think it covers all practical issues. The designer of the Net Lawman version has owned and horses for 40 years. It has taken into account many other options based on the practical experience of oneself and others. The result is a document that better protects your interests. Our version is easy to complete and very extensive. 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. Unfortunately, the BHS cannot directly help resolve civil issues. 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 that it contains: If you want to rent a horse, you should not accept a horse that is not accompanied by a valid and current passport. Verify that the name of the owner from whom you are borrowing the horse is the currently registered owner.
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. Cover the part of the horse known as:_______ The decision to borrow a horse should not be taken lightly or rushed, as a horse that turns out to be unsuitable or uncertain can be extremely annoying. It can also put the new loan in a difficult situation. You are largely free to make the deal you want with the other party. There are very few things that, for any legal reason, cannot be included in your contract. So if you want to specify details like power supply, you can do that, or you can keep the terms wide.
We recommend that you add as much additional detail about the points that are important to you. Remember that you need to be realistic about whether the other party will be able to honor the contract and stay by their side…