Question About "Lease to Own"
 
 

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Question About "Lease to Own"

This is a discussion on Question About "Lease to Own" within the Horse Talk forums, part of the Keeping and Caring for Horses category
  • What is a lease to buy horses
  • Equine lease to own contract

 
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    08-01-2012, 04:24 PM
  #1
Weanling
Question About "Lease to Own"

Could someone please explain to me how that works?

I've had a girl willing to buy my horse if we can do a lease to own, and im just not sure what that is
     
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    08-01-2012, 04:32 PM
  #2
Trained
Basically the buyer makes payments on the horse and the responsibility of the horse is shared between buyer and seller. The buyer is "leasing" the horse but the payments are applied towards the purchase price.
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    08-01-2012, 04:34 PM
  #3
Showing
It means that you set a price for horse, and give her a certain amount of time to pay it off. If she can't or won't pay off the agreed upon amount, you take the horse back and consider any payments she made as a lease.

However, in order for something like this to work, you have to make sure you have an ironclad contract spelling out EVERYTHING. Make sure that the contract is not only witnessed but notarized, and both lessor and lessee get a copy. That way, nobody can say they didn't understand the full terms.

Generally a lessee will pay for everything on the horse, including medical care. However, a regular lease precludes them from deciding on euthanasia, which will be left up to the decision of the actual owner.

A lease to own situation is different, in that the lessee usually takes on all the responsibilities of the animal, up to and including euthing.
     
    08-01-2012, 04:41 PM
  #4
Weanling
Thanks guys!! That helped a lot!
     
    08-01-2012, 04:51 PM
  #5
Weanling
"Lease to Own" in this situation probably means this person cannot afford to buy your horse...

I would be VERY cautious about entering into this sort of agreement over a horse. As the seller - you are the one most likely to get scr*wed.
     
    08-01-2012, 05:54 PM
  #6
Weanling
Yeah Daisy, I told her I wasnt willing to do this. I've got a few people interested and I don't feel comfortable having my horse leave my possesion till I have the money
     
    08-01-2012, 06:00 PM
  #7
Showing
Yep, unless you trust this person explicitly, and even if you do, I don't really like the whole lease to own thing.
     

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