How do I handle a Lease to Own - The Horse Forum
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  • 1 Post By horselovinguy
  • 4 Post By Dreamcatcher Arabians
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post #1 of 7 Old 12-01-2018, 04:06 PM Thread Starter
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How do I handle a Lease to Own

So, I have someone interested in buying my gelding. But they have to do a lease to own. They also want a trial. How exactly do I handle this? I am fine with it, but I donít know how much they should be paying up front and per month of the lease. How long should the trial and lease last for? They will definitely be signing a contact and Iíll have the numbers for the boarding facility, farrier, and vet.
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post #2 of 7 Old 12-01-2018, 05:15 PM
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There are many here who can suggest contracts and terms for you...
I don't know about that stuff...
However...
You are referring to the horse leaving your watchful eyes, under someone elses care and riding and things happen.
The horse needs insuring with a policy paid in full for the term of the lease contract and for the full price of the horse, not pro-rated.
If something happens to the horse the leaser is going to walk and leave you unpaid and in debt for bills incurred to either euthanize or hopefully make the horse whole again.
Somehow you need to be protected....
How to do that...
...
jmo...
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post #3 of 7 Old 12-02-2018, 07:46 AM
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For the trial, does your horse stay at a barn or your own property?? Two weeks for the trial. You should ask her, how often is she/he free if she says every day or every other day say "would two weeks be fine ??". If she says yes then thats good. Per payments wise you will need a very detailed contract with witnesses so nobody can say they didnt understand the terms. I think you would have to work out the extras with the inquirer based on how much she can actually pay per month and how much you request. If she cant afford the full amount by the time written on the contract you can consider that just payments for lease. Write everything in the contract. Do you want them to pay a down payment ? How much is he selling for?

Ain't no Foal to this.
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post #4 of 7 Old 12-02-2018, 08:49 AM
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No lease to own. If you're willing, do payments but the horse stays on your property until paid off, YOU take out an insurance policy naming you as the payee if something happens to the horse and they pay for the policy, and they can come to your property to ride for the trial period. EVERYTHING is nonrefundable in a case like this. I don't do trial periods, leases, payments or anything like that. Buy the horse or don't, but once you sign on the line, it's yours and your problem.

Since you say you're ok with a trial period, then give them 2 weeks but require a 1/3 down, nonrefundable deposit and it doesn't start until the horse is insured.

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post #5 of 7 Old 12-02-2018, 10:45 AM
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When I bought my mare, I made payments. Two to be exact and she did not leave the sellers property until she was paid for. Also, I paid for her board until she left the sellers property. She was also insured.

I would not do lease to own, too much can happen and go wrong.

I would either lease the horse to them but they do not become the owners or I would sell the horse to them paid in full. I probably would let them make payments but the horse would not leave the property until he's paid for and they would pay board for said horse while paying him off.

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post #6 of 7 Old 12-02-2018, 03:04 PM
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Sounds a strange arrangement to me. Agree with Dream tho would do a trial, with half payment & contract. But a 'lease to buy' IS a trial imo & I wouldnt do/can't see a point in both... seems buyer just wants their cake & eat it too.

So im guessing this 'lease to buy' is like a 'layby' arrangement, where the horse is paid for in installments because buyer can't afford to pay up front but wants horse now? If they cant afford to pay up front, id be concerned how they could pay for the horse in the long run, if anything went wrong, vet care etc. Definitely be a *short term* on site lease with other stipulations about what's allowed, and non refundable payments imo.
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Some info I've found helpful; [COLOR=Lime][B]www.horseforum.com/horse-health/hoof-lameness-info-horse-owners-89836/
For taking critique pics; [COLOR=Lime][B]https://www.horseforum.com/members/41...res-128437.jpg

Last edited by loosie; 12-02-2018 at 03:15 PM.
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post #7 of 7 Old 12-11-2018, 06:38 PM
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I've bought more than one that I made payments on. Horse never left the seller's property until paid in full and the horses were insured. There was one exception. I was not in the market but the seller had to move the horse and I had purchased several over the years from her so she asked if I could keep him until sold or she could come get him. In the event she couldn't then his board and care would be subtracted from what she intended to sell him for. 4 years later she signed him over for nothing.


ETA No, actually, there were two. I made a payment that covered half the cost and she was delivered that afternoon. Two weeks later when I had the balance she was paid off. Because it was a neglect situation and the horse was extremely emaciated I moved her once she was delivered so that they could not return for her.
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