Gift horse?

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Bubley898

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Has anyone been gifted a horse?
Did you have something put in writing or pay a minimal amount to own it legally?
Also how does it work when insuring it? How do you value it? Thanks.
 
I was given a horse about 2 weeks ago. I paid £1 for him so he is legally mine. A friend (who is studying law) said something had to change hands like a small amount of money for him to be legally mine.

Mine arnt insured for value so I didn't run into insurance issues. Even my smart expensive mare is insured for hardly any money so is just insured for vets fees and 3rd party. £1 pony is the same. £1 pony is also the sweetest and easiest horse ever!

What's your gift horse like?
 
Vickijay said:
I was given a horse about 2 weeks ago. I paid £1 for him so he is legally mine. A friend (who is studying law) said something had to change hands like a small amount of money for him to be legally mine.

Mine arnt insured for value so I didn't run into insurance issues. Even my smart expensive mare is insured for hardly any money so is just insured for vets fees and 3rd party. £1 pony is the same. £1 pony is also the sweetest and easiest horse ever!

What's your gift horse like?
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I have heard this £1 thing lots of times but I don't think that legally money has to change hands. What if someone buys you a horse as a gift? You then register it in your name. Surely that is legal. All I have for one of my horses is an email saying she is signed over to me. I also have her passport in my name. No money changed hands.
 
Law studying friend said that any gift could be taken back at any point if the person that gave it decided they wanted it back. He said it didn't have to be money his examples were even as silly as a pebble or shoelace! As long as it's in writing that you gave XX in return for XX then it was yours, even if the person gifting it wanted it back or took you to court to fight to have it back.

Also for the sake of £1 I think it's better to just do it to be safe!
 
you need to have something in writing that says the previous owner is signing ownership over to you and relinquishing all rights over the horse, otherwise you could run into all sorts of problems later down the line ,like previous owner deciding they like what you've done with the horse and wanting it back etc etc. :)
 
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