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Right of First Refusal

This is a discussion on Right of First Refusal within the Horse Talk forums, part of the Keeping and Caring for Horses category
  • Horse sale contract with first right of refusal
  • First right of refusal clause horse dollar amount

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    02-18-2013, 06:59 PM
  #21
Green Broke
I have my horse because of "right of first refusal"- his previous owner had to sell him due to divorce and offered him first to the breeder from whom she had bought him. The breeder has a "right of first refusal" clause in the bill of sale he gave me, too, but to be honest I'd call up the previous owner first; I exchanged a few e-mails with her around the time that I bought him and it was very clear to me that she was heartbroken that he had been sold and she no longer had the opportunity to eventually buy him back again. That, and I wasn't impressed with the condition he was in when I bought him (underweight even though he's an EASY keeper, poorly maintained feet, etc.)
     
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    02-18-2013, 07:46 PM
  #22
Weanling
I can understand using the right of first refusal to prevent the horse from.ending up in slaughter if someone knows if all else fails, they can get x amount of money back. And I would be fine with it if it ended there. I don't like people checking up on me and driving by the house. Call me paranoid, but I live in the country so I don't have to deal with people, including nosy neighbors. But that's kind of off topic.

My issue starts when people think they have the right to the horse at any/all time and should get it back in the amount of their choice. I'm happy to send updates for a little while so they know their horse has settled, and that's just because I'm a decent person, and once those hooves are on my property, anything I inform the previous person about is out of the goodness of my heart. I don't lease or adopt horses because I don't like being told what I can and can't do with them. But by some of your descriptions, it seems the people I have passed over weren't using the clause properly. If all they wanted was first option to purchase the horse at whatever price I set it at, sure. No need for drama and hurt feelings because I didn't keep a horse forever. In this day and age, people should be happy to know that a horse had a great, spoiled life while it was with me, however long that might be, whether it is is a month or 10 years.
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    02-18-2013, 09:43 PM
  #23
Yearling
I've always thought about it as a courtesy thing. When I sold my father's older gelding (20 years old, we had him for 6 years) I asked that if something came up that they might consider notifying me. I didn't require it and didn't even mention it in our contract (they leased him first), but let them know that the horse meant a lot to me.

Ends up two years later that the family was relocating out of the states and gave me a call and offered him back to me for free. Very sadly I was unable the support two horses at the time and wished him luck with rehoming him.

I think its a nice thing to do, but never should be necessary.
     
    02-18-2013, 11:40 PM
  #24
Banned
Both the horses we have recently bought have a "First right of Refusal" clause. It's a simple one liner that merely states that should we for whatever reason decided to sell said horse, the folks we bought them from get first chance to buy them back at whatever price we are asking.

I'll honor that. I see no reason not to, really. They aren't up in our business and made no demands. Course, if they had, we wouldn't have bought the horse in the first place!
     
    02-19-2013, 05:29 AM
  #25
Weanling
I brought my gelding from a lady that I hadnt known long and she did ask if I ever decided to sell him that I would give her the first option of buying him back. We never put anything down on paper and have lost touch for the most part but I would probably still let her know if I did sell. To me its a good sign if someone values the horse enough to want it back in the future or least to have that decision. If it got to the point where he had been retired and for whatever reason I could not keep him on then I would definitely consider letting her take him back. I doubt I would expect any payment in that situation though.
     
    02-19-2013, 09:27 AM
  #26
Started
I hate right of first refusal. Sure I'll give a previous owner updates at MY discretion, but don't expect me to let you see the property and have unplanned visits. If you want to keep ties to the horse, don't sell the thing. UGH, some people!
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    02-19-2013, 09:35 AM
  #27
Weanling
See to me though right of first refusal is only used when it comes time for you to sell. If you want to sell then I want first crack at buying back at whatever price you have it listed for. I think anyone saying well I get to buy it back at the price you payed me for it is stupid. I mean if you have put thousands of dollars and hours into additonal training then the horse will be worth more than you paid for it and I would expect to have to pay for that if I wanted my old horse back.
     
    02-19-2013, 09:41 AM
  #28
Yearling
I do agree with visiting a property before you sell or lease a horse. It's great to see a persons other horses. If they're all in good condition it's a relief, if their horses are in a bad way don't leave the horse.
Right of first refusal is a privilege and a favor but it makes sense
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    02-19-2013, 09:54 AM
  #29
Showing
Quote:
Originally Posted by Prinella    
I do agree with visiting a property before you sell or lease a horse.
Leasing yes, selling no. You have no right to visit my property if I've BOUGHT the animal. It's not yours anymore once you accept my money. Leasing is a whole other ballgame.
     
    02-19-2013, 10:01 AM
  #30
Weanling
SR they are talking about before the sale. Wanting to ensure you take care of your horses before selling you the horse is smart. Id want the peace of mind to know you will be taking care of my friend which is what my horses are to me.

Now if we are talking checking up on you after the sale well the previous owner is delusional if they think they have a right to do that. Once that sale is completed the only thing that I think they should have a right to is having the first crack at buying the horse back if it is being sold.
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