Ditto on having a good clear contract.
An example of a real life lease agreement--
I am currently the lessee of an Appaloosa mare who has produced a point earner, has better than average breeding as far as recognizable names, but not stellar as far as current popular performers. I have her at my farm and am caring for her for from the time of picking her up, through breeding, pregnancy, and weaning. I am responsible for vet care, farrier, and all upkeep as if she were mine. I am responsible for having mortality insurance with the owner named as beneficiary, OR for paying the owners the pre-agreed upon value (in the contract) of the mare if she were to die while in my care. I picked her up, I will be responsible for returning her home (400 mile trip one way) after we wean her foal. I am not paying any additional fees.
Last edited by Eastowest; 02-24-2010 at 02:54 PM.