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Back with a lease question.....

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  • Horse lease question

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  • 1 Post By Ashalee standylover

 
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    03-03-2013, 08:58 PM
  #1
Foal
Back with a lease question.....

Hi everyone, I am not sure if you remember me, I posted about a mare for sale at our barn called Annie. She had some issues, and you all correctly helped me realize she is probably not the best horse for us to buy.

We have been offered a free lease on Annie, and the contract is being negotiated....We are seriously considering this. Caroline rode Annie in a show today (NEHC rated) and won 4 blue ribbons in her walk/trot classes.
We are not naive to Annies issues/concerns and felt she was overpriced.

What terms should I expect on the lease? I have been told that it will include a stipulation either party can opt out with written notice, but what else should I be thinking of? As a lesee do I pay all vet bills? Do I need insurance? Am I crazy? (the last is a joke...kinda?)
Appreciate any further guidance you can give me.

Chris
     
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    03-03-2013, 11:03 PM
  #2
Foal
Quote:
Originally Posted by Chrisr    
Hi everyone, I am not sure if you remember me, I posted about a mare for sale at our barn called Annie. She had some issues, and you all correctly helped me realize she is probably not the best horse for us to buy.

We have been offered a free lease on Annie, and the contract is being negotiated....We are seriously considering this. Caroline rode Annie in a show today (NEHC rated) and won 4 blue ribbons in her walk/trot classes.
We are not naive to Annies issues/concerns and felt she was overpriced.

What terms should I expect on the lease? I have been told that it will include a stipulation either party can opt out with written notice, but what else should I be thinking of? As a lesee do I pay all vet bills? Do I need insurance? Am I crazy? (the last is a joke...kinda?)
Appreciate any further guidance you can give me.

Chris
Ok, it really depends on the horses owner. There are a few different types of free lease.
1-the owner pays for eveything, and you don't have to worry
2-the owner pays for some and you pay for some
3-yu pay for everything.
The above are different sorts of free leaseing.
If your paying for everything then its almost like getting a free horse.
You need to consider
Farrier
Tacck
Rugs
Feed
Denstist
Worming
First aid kit
Vet
Grazing.
I leased a horse before actually purchasing it a week ago. If you have all of the above you should be ok.
If you do choose to lease the horse I would consider getting a diary to keep a track of everything, and to talk to the orses owner on what they expect you to pay for ectect
Insurance will be a good idea, but I havent done that.
Good luck :)
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    03-03-2013, 11:12 PM
  #3
Trained
One of mine is free leased-but to a therapeutic facility, not an individual. However-both this place as well as the one he was at previously have taken care of EVERYTHING. The only time I would get a call is, heaven forbid, he colics and needs surgery or something major. Even so, when I signed the contract, I told them what my financial threshold was for a "major" event, so that IF they cannot get hold of me they at least can get treatment.

There are as many variations of leases as there are people. Naturally, the more you have in writing the better off you will be. You know this horse has some "predisposing" factors-so certainly, if I were you, I would not want to be responsible for that! Otherwise you would have bought her!
     
    03-04-2013, 09:21 AM
  #4
Foal
how specific?

Hi, and thanks for your responses...

Franknbeans....How do I account for the predisposing conditions? Do you mean paying for regimate? Do you mean if she kicks or bites someone else? I am going to get a look at the draft of the lease tomorrow.

I expect to pay for most everything, and honestly look at this as a chance for see how paying for all this works for our budget.

Should I pay for Regimate?
Should I have a clause for major medical? Who is responsible if there is colic?
I am expecting to pay for teeth, shoes, vet, but what are some limits that are imposed? I realize its highly variable but I am just trying to get an idea of the range. Is it usual to have the opt out?
Thanks for the guidance
     
    03-04-2013, 09:34 AM
  #5
mls
Trained
You can write the lease however you choose.

Leasing can and should be a win/win/win (owner, leaser, horse).

Some folks lease in an attempt to make money, some to help with expenses and some to ensure the horse is getting the work/attention it needs.

Leasing is a good option before jumping full into owning.

#1 stipulation I always like spelled out - is the horse for sale. If the horse is for sale, is the owner actively trying to sell - and if yes, what are the terms. Should the horse be sold during the lease - what is the notice and any refund of monies paid.

If we had a sale horse leased out, we always gave the person leasing the first right of refusal. The person leasing was also offered a payment plan - if the horse stayed on site. We as owners covered routine vet and farrier fees. We also provided tack. All leases were on site.

The lease indicated the value of the horse and that the person leasing was responsible for the value should something happen to the horse rendering it unusable. Insurance was their choice. Any injuries or illness that happened due to the fault of the person leasing was their $$ too. However, the decision to euthanize stayed with the horse owner.
     
    03-04-2013, 09:43 AM
  #6
Trained
Quote:
Originally Posted by mls    
You can write the lease however you choose.

Leasing can and should be a win/win/win (owner, leaser, horse).

Some folks lease in an attempt to make money, some to help with expenses and some to ensure the horse is getting the work/attention it needs.

Leasing is a good option before jumping full into owning.

#1 stipulation I always like spelled out - is the horse for sale. If the horse is for sale, is the owner actively trying to sell - and if yes, what are the terms. Should the horse be sold during the lease - what is the notice and any refund of monies paid.

If we had a sale horse leased out, we always gave the person leasing the first right of refusal. The person leasing was also offered a payment plan - if the horse stayed on site. We as owners covered routine vet and farrier fees. We also provided tack. All leases were on site.

The lease indicated the value of the horse and that the person leasing was responsible for the value should something happen to the horse rendering it unusable. Insurance was their choice. Any injuries or illness that happened due to the fault of the person leasing was their $$ too. However, the decision to euthanize stayed with the horse owner.

So, what if the horse gets something that could be caused by something that is of no fault of the lessee-like navicular, or melanoma in a gray? Who pays for that one? I can see a court battle ensuing over something that could have been preexisting. I sure wouldn't pay as a lessee.....and would most likely end the lease, depending on what I was using the horse for.........It is very complicated for sure. There are a whole of of "what if's" and no matter what you do they cannot all be covered.
     

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