Buying back clause...

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Has anyone used one of thes when selling a horse and if so would you mind giving me some advice how best to do this?

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PM Kerrilli. I'm sure she's mentioned before that she does something like this (or similar) if she sells a horse.

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I agree with scotsmare, once you have sold a horse you have no control or rights over it whatsoever. It's future is totally under the control of the new owner, that's why they bought it & presumably that's why you sold the horse.

You can mention a possibility of buy back/ first refusal to them but it would be a matter for them, there would be nothing legally binding in it at all. If you wanted that degree of control you would have to abandon the idea of selling the horse & just go down the loan route, then you could have the horse back at any time.
 
I was sold a horse, the lady selling wanted a buying back clause. My grandfather is a solicitor and he told us that they really weren't worth the paper they were written on, and wouldn't stand up in court. When I eventually grew out of the pony she was (12.2) I ofered her back to the original seller but that was my own good will as oposed to any type of contract.
Lots of people would be willing to if they did sell sell back to the original owner at the same price purchased even if the horse is 10 years older.
 
I think it cuts both ways. I had brought a horse from a lady who wanted a buy back clause. We gave her time to get money together and look for livery etc but all she did was waste our time and had no intention of having the horse back even on loan! It caused alot of bad feeling in the end which was a shame. Like OP says if you don't want to sell it maybe consider a loan? I have been asked to buy back one of mine and it was a horrible position to be in while you don't want them passed around I sold him for a reason...
 
once you sell a horse you relinquish all responsibility and ability to have a say in its future (in theory).

for all the horses I bred I always write a little note in the front of the passport saying that if ever the horse is looking for a home to contact me. Not sure it works but at least if the horse gets passed around then that chance is still there.

I think a 'first refusal' is the only thing you can really do - and that relies on goodwill.
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Contracts for buying back other things (buildings, financial products, probably others) can and do exist. I don't see any reason why horses are different (legally!). Imagine the difficulty would be in getting a special contract drawn up as that could cost a fair bit in legal fees (more than many horses) and then any potential costs with enforcing it. Agree with the other suggestion that a loan might work better if you would like to influence the horse's future.

Edited to ad that the buyer might have to have some legal advice too unless the contract was really clear because they have to understand it for it to be valid I think.
 
Agree with the others, once it's gone it's gone except by goodwill.
Also don't forget that the horse could be worth more or even less that you sold for, say for instance you sold a show horse for a good deal, it then got blemished badly so no longer had a career showing; you wouldn't pay the same as you got to get that one back or vice versa, something you sold improved so much it was worth a lot more than you sold for, you might not be able to afford to buy it back, but it's always nice if they remember your offer of buy back even if you're not in a position to do anything about it.
 
Thank you... loaning is not really an option to me unfortunately.

Thanks for the suggestion about putting a note on the passport, that is a very good suggestion
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