Ever leased out a horse?

[kinnip]

I have two horses I'm trying to decide between. My BF just informed me he'd be willing to work something out in the way of startup capital, if I can find a way to defray some upkeep costs. There's a nice, young, capable rider at the boarding stable who has recently lost the use of her horse due to a stifle injury. I'm thinking about asking her if she wants a partial lease on the big gelding. She comes well vetted, and I plan to be there every day. Anything I need to know before I embark on this crazy plan?

 

[Buff Hooligans]

How many people can vouch for the young capable rider? How old is she and who will pay the leasing cost?

 

[Guinea Goonie]

Thier side of the lease: If the price is right and you have good access to the horse this is they best way to get a start in the horse world. Leave the vet bills, the shoeing bills, the board and the yearly vaccinations to the owner. They are only trying to cut down on thier costs and you should not take over all of these costs. I would tell them you know that it cost bucks to own a horse. See what they have to have to lease, but do not take over their entire cost of ownertship. Horses are WAY to cheap to buy to do this.

Your side of the lease:
Wil they abuse the horse, will the ruin the horse in training and finally will you get enough of a cost cutting to justify the use of your horse.

 

[horsejody]

If the rider is a minor make sure she has health insurance in case of an accident. Be careful with any waivers. They have to be carefully worded. An adult cannot sign away a childs right to sue. The waiver should not only state that the parent waives the right to sue, but takes full responsibility for any injuries the minor incurs. You will also need to work out who is responsible for vet bills, farrier work, etc. Specify what types of vet bills too - maintenance (shots, teeth floating, etc), emergency (colic, injuries, etc.) Most of the people that I know that have horse lease agreements set it up so that the owner pays the vet bills, unless the injury was caused by the person leasing. Be careful. Don't lease to anybody you don't know. You will also have to determine if she can take the horse off the property. If she is allowed to remove the horse make sure whoever drives has adequate insurance or deep enough pockets to cover injuries or death. You will also need to determine if she will be allowed to let others ride the horse. GET EVERYTHING IN WRITING!!!!

 

[Tuffoldhen]

I know DD leased a horse for a year once to be able to keep up with her riding. She was over 21 and had a good experience leasing, I'm sure she signed on the dotted line alot!! I'll ask her. She is thinking of doing it again and has looked into it.

 

[onthespot]

from what I have read on other forums, waivers are not legally binding. You can word them any way they want, and the law will be administered however the judge decides, regardless of whatever words were written or who signed.

That being said, get the waiver, word it carefully, have it signed, notarized, whatever. At the very least, the signees may feel intimidated by the fact that they signed a wiaver and fail to peruse the matter in court. Just know that if they do, the judge can toss it.

 

[kinnip]

I haven't had the opportunity to look yet, but I'm hoping to find some pre-written leasing legalese that I can borrow from. She's 17, so her mom will be doing the signing. I haven't seen her ride yet. I have seen many photos, and she has a fantastic position. She also managed to school her horse in some training level dressage. I would retain responsibility for normal upkeep, i.e., farrier, worming, teeth, boosters. I would also insist on riding him myself 2 to 3 times a week. It would be a partial lease only. I wouldn't mind her taking him to shows, on the condition that someone I know, preferably me, goes along. There will have to be many forms for the signing. It's true that waivers aren't legally binding, but they are compelling to a judge or arbiter. It's definitely worth having them signed.
The other expense defraying option is to let my instructor use him as a lesson horse. I like this idea less and I'm not sure she'd like it either since the horse is 16hh. I don't want some scared beginner tearing up his mouth.

 

[Buff Hooligans]

Kinnip, you are wise in all areas. You don't really need our advice. You're just teasing us.

It's very exciting that soon you may be working with your OWN horse. Please send photos directly to the Workout Thread.

 

[kinnip]

I guess I was just fishing for horror stories. It's good to here some worst case scenarios before making up your mind.
I will be posting pics on any and all threads. You can't ignore a proud mama!!!

 

[EweSheep]

I've leased out my miniature horses out and there are pros and cons of doing it and it was not a bad thing at the time despite of the lease person wanted to back out of the lease because my stallion was infertile.....he sired three foals out of three mares bred to him that year.

Like HorseJody says, get everything in writing and in DETAILS! Leave no room for them to weasel out or wiggle out of the contract if they decided to bail out.

If you can, get a lawyer to take a look at it...it would be worth your time and money and heartaches!