Has anyone here ever co-owned a horse before?
 

Here my story, and I would love opinions and I would love to hear your stories about co ownership if you have them!

So I bought this mare last summer from a friend of my landladies for dirt cheap because she was getting a nasty divorce and had to sell her whole heard. This mare was slightly more expensive then the other horses she was selling due to her heritage bloodlines. Plus she was bred so 2 for the price of 1 right! Well we lost the foal (most insane reasons too! can share if your curious, sad but just weird) and I started training her 2 weeks later. She is soooo smooth, words cannot even describe how amazing this mare can walk. I've owned two walkers before and rode countless others and nothing compares to her. And she picked up up so fast! She'll do it going up, down or on flat ground. Anyways enough ranting about her, so I contacted the heritage society to find out more about her and her breeding and bloodlines ect. Basically to see why this lady didn't want to sell her for less and why she didn't want to let her go. I got in contact with the owner of her parents, the gentleman who bought her as a 2 year old then sold her bred as a 3 year old to the lady I bought her from. Learned a lot in the past 3 weeks.

I talked to the director of the heritage society who also knew her back when she was in Tennessee and Montana and she asked for a picture of her for their newsletter so I sent one of us out riding. I also started contacting a few breeders with heritage studs to see if I could breed her one last time before I start her on endurance riding. One of said breeders lives fairly close to me and has been amazing, telling me all about the bloodlines and just super fun to talk to. An hour phone call the first time we talked and i laughed when I saw that, it defiantly didn't feel like it. Apparently she's been watching my mare as she's traded hands and was thinking of getting her as a 3 year old but decided against it.

Long story short she wants my mare.

She's getting more and more persistent about it too, open to ideas and so am I. I believe she would give my mare a great home and she is willing to trade me a 3 year old well bred chestnut gelding in return and such. I am moving soon and would like her ridden over the summer so this lady said she was more then willing to take her and get her back in shape slowly then keep her over the winter and such. I'm thinking about it, letting my mare go up there so this lady can breed her a few times, use her as a riding horse over the summer and then I'd get a gelding out of it. We'd either trade back at the end or she'd give me the gelding in exchange for the foals. She even suggested co-ownership but I've never heard about it, and I've never known anyone who's attempted it so I'd love to hear more about your experiences!

We were thinking that we would trade horses for 2 years at least starting next month, she would breed my mare next spring and keep that baby and then either keep my mare if I don't miss her too much and get another baby or we would trade back so she would have a broke 4 year old gelding for her trail riding business and I would get my girl back. Details are up in the air, both of us are more then willing to do some give or take. So lets hear it guys? Should we go for co-owning or should I keep her in my name? Thanks!

Whatever you decide with this lady, WRITE EVERYTHING DOWN and both sign it, a copy for each. Sorry I can't offer more than that, but cover your arse and outline it all clearly.
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I personally think just keep it simple either sell the horse, lease it or keep it. Like said above have everything written down as well. The situation could be very happy and willing now between you both, but it could turn sour very quickly.

No way would I do that, either sell the horse outright or keep it. Too much conflict, too much could go wrong.

Thanks for the input guys, okay I'll steer clear of that mess then. I was reading some horror stories online as well and yeah... I'll probably just lease her for a bit instead.

I would NEVER co-own a horse (I've passed up a few I really really wanted.) it's too much to risk and can be very ugly. If you really want to let the lady breed her do a breeding lease, but make sure you have insurance on your mare or agree on an amount in case something tragic were to happen. And ALWAYS write EVERY detail to a T and get signatures (with a witness!)
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I did it, very bad mistake. In fact, if the horse had not had to have been put down due to liver failure, things could have been very ugly. I was going to buy him myself, train him, sell him in July. She offered at the last second to pitch in and have a part of it (she is inexperienced but I figured myself and my riding instructor could teach her something) Immediately after seeing him for five minutes she was convinced we were not selling him. Things got very awkward, as that had been part of our deal. I don't recommend it, definitely not. I was stupid to put myself in that situation.

Once the horse goes out of state consider any contract null and void as there would be so much hastle and expense involved in getting it back if that is what you wanted. Skip the trade. This lady is persistant because she knows she will come out on the better end of the deal. She is telling you all the bull she thinks you will believe and it seems she's doing a good job. Somehow I get the feeling you will go thro with this anyway. To quote PT Barnum, "there's a sucker born every minute". Don't be a sucker for what you are being told.

I once co-owned a pair of horse clippers and it was a disaster.

Yes. My GF and I bought a pony when we were 13yo's. We had to sell it back to the farmer the next day. =b