buying horse via installments

C

cindydog

Well-Known Member
Joined
19 January 2009
Messages
472
Location
scotland uk
Visit site
Anyone done this how do you protect interests, y/o where horse loaner keeps horse is interested in horse their spare pennies tied up in new build arena and interested to pay monthly if loaner not wanting to buy..does this work?
 
I had agreed to do this with my boy (though didn't happen and I still have him, so pleased) but just made sure we had everything in writing. Up until the point he was fully paid for, the horse was still mine and I was allowed to check on him etc. but both parties were able to end the agreement as well. I did also put in a clause that if, for any reason, the horse was being mistreated or neglected, I would take him back and the buyer would forfeit all monies paid, but that was just to make sure he would be looked after properly. Buyer was fine with it, after all, as long as intentions are good, it shouldn't be a problem.

I could send you what I drew up if you'd like? :)
 
someone is interested in buying my horse however they want to pay by monthly installments I would need to know all the ins and outs of this the person in question is y/o and has put all spare monies into building of arena so wants to know if I would be open to this offer.
 
I bought my boy in instalments and we had a written agreement. I had his passport from the outset as legally it has to remain with the horse and isn't a proof of ownership anyway. It all worked out fine.
 
Forgot to say... our agreement was a bit like this...

<Buyer> agrees to look after and pay for all bills for <horse> after the first payment has been made and agrees that <horse> will be <buyer’s> property after this payment has been made.

<Current owner> hands over the ownership rights of <horse> to <buyer> as soon as the first payment is made, unless <buyer> fails to make the agreed payments

You both agree that the terms in the contract are legally binding, so you agree to make the payments, she agrees that she has no say on him after you have made the first payment

<Current owner's name and address>
 
I have sold several horses to people paying by installments.

We have an agreement drawn up, but basically, the horse does NOT leave my property until I have the final payment in my grubby mitt, AND they pay board and any other costs incurred. No alternatives, period.

If it doesn't suit people then they find the cash, or another horse.
No way on this earth would I let a horse go out on payment plan/lease/loan (sorry, I am sure that 95% of loaners are absolutely genuine, I've just met some of the ones that weren't)
 
I bought my horse this way, had her on loan for 2 months before I bought her. Then put down 50% deposit and paid the rest by instalments over 4 months. It helped that I was keeping her at the previous owner's livery yard, but basically nothing really changed from loaning her to owning her (except my bank balance).
 
You must log in or register to reply here.
Top