considering loaning out my horse, how does it work?

You Wont Forget Me

You Wont Forget Me

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Hi all, from title you can see I'm considering loaning my horse out as I am losing interest at the moment and don't really have the time or money for him at this moment in time! I couldn't part with him completly hence why I won't sell but I just want to get a bit of feedback about how loaning a horse out works as in who pays what ect. Any advice would be greatly appreciated :)
 
depends how you do it, will you let him move yard or do you want to keep him where he is so you can oversee things? If he goes out on full loan then the loaner pays everything, although a friend of mine pays for her ponies insurance to make sure they are covered.
If you're doing more of a share arrangement at your current yard then you need to work out how much it costs you and what contribution you want towards that. Either way you need a loan contract in place, theres examples on the BHS website, or you get a solicitor to draw something up.
 
Maybe contact user MHOL on here, they will be able to advise how to avoid the pitfalls.
I know you should update www.nedonline.co.uk to show it's on loan so that a new passport can't be issued.
Unfortunately there have been some horror stories over the last few years, not that you shouldn't loan, but just be careful about who he is loaned to.
 
If you have a look on the BHS website they have a template loan agreement which i would recommend reading.
Having just bought my loan horse, gettting the contract right is very important as there are lots of nitty gritty bits which I know i hadn't even thought of.
I basically paid livery, shoes feed etc all every day costs and if he needed the vet id pay the excess and the owners insurance would then start. I also bought rugs, boots etc ans they werent NECESSARY (in my opinion they were) but i then would have kept them if he went back.
from my experience, make sure it is VERY CLEAR the circumstances in which either you want to take your horse back / the new loaner wants to give him back or whether you eventually decide to sell him as the ex-owner of my horse decided after a month that she was going to sell him.
now it was in my contract that he was completely mine for 6 months, so she couldnt sell him, and if she wanted him back she had to give me a months written notice which she didn't do. so technically she couldn't just take him and sell him to someone else within a month if she'd have given me written notice but thats what she was going to try and do if i couldn't afford to buy him.
luckily my parents stepped in and lent me a bit of money, and i managed to knock quite a bit off the asking price coz she was breaking the contract!

final point (I promise!) make sure its clear that you expect the horse/tack to be returned in the same condition as you loan him out on ands put this very clearly in the contract as the last thing you want is someone riding your horse into the ground for 6months then giving him back to you lame and you can't do anything legally about it =)

good luck! hope this has helped a bit!
 
Have the horse freezemarked or microchipped. As you were advised, tell Ned on line that the horse is on loan and write to your passport office and tell them the horse is on loan and if anyone attempts to change the passport, it is illegal and you wish to be informed.

Take out references and check the yard out. If the person is new to the yard, then ask for vet references, copy of utilily bill etc. Also, if you do go through with this, do talk to the YO, reafirm this is a horse on loan and ensure she/he has your contact details as well.

Oh might be worth advising potential loaners that you will search their details against (as an eg) horses missing on loan (on FB) and also would be contacting MHOL on here to ensure their name does not crop up.

The legal contracts are not really worth a lot unfortunately - it comes down to "he said.she said" hence the police normally pushing this off as a civil crime but if you had a clear loan contract in place, plus the checks and notifications on the passport and NED I think you will have gone a long way to safeguarding yourself.

Finally, would also stipulate that the would be loaner had to have a lesson (at their expense) with your trainer or someone who knows the horse as well..
 
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