Help please! Contracts ARRHG

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mollyelizabeth

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OK,
This might take a while.
I have a friend who wants to share my horse with me. However she wants to put in half his vaule so she technically owns half of him. There is no contracts for this?? Not that im suprised as I suppose someone always needs to remain the owner as surely the horse becomes "no mans" horse?
I dont know how to go about writing up a contract myself? Ideally I want her to share him with me as it makes it easier for time and money, plus she doesnt have the experience to go on her own!...another reason why Im worried about her "owning" half of him. I'd always want to have final say on any issues to do with his welfare, due to her inexperience with equine care. At the moment she only knows the basics. But how can I put that in a contract, when technically she owns half of him? ARRGHH its to hard, she wont go in for a part loan as she will feel she has no control over anything. Not that I think she should get a great deal of control whilst she is learning the more technical stuff on horse care...but hey ho!

Any ideas?
 
If you are not happy with her owning half of him and she won't go for a more traditional part-loan agreement, I'm afraid I think you should walk away. I'm sure there would be no hard feelings if you explain the situation to her and there are lots of good sharers out there. I have one for my boy!

Giving up half of him could get you in a whole heap of trouble IMO.
 
Yeh I personally wouldn't be wanting somebody to technically own half of my horse. As you want the buck to stop with you, you want to remain the owner in full. Instead I would ask her to do a normal part loan or share. She'd still be contributing towards the costs and you'd still have the extra time, but you would keep full control.
 
You could sell 49% per cent of him, so that you hold 51% which is a controlling interest. That is if you want to go down that route. Sounds to me like you don't and, if that is the case, then I agree with the above and I think should walk away.

Good luck and do let us know what you have decided.
 
Thanks, I do want her to have him with me, as it owuld her happy and make my life easier. i'm just worried...for example I like a pulled mane, she doesnt, she likes them long. just little things like that, who would actually get to say what will happen? The 49% sounds good, if she would go for that option. I think if she didnt like the situation with Arthur, she'd end up going out and getting one on her own. Which would be bad.
 
What's going to happen when the two of you fall out? Your horse will be piggy in the middle and you will have an extremely hard time sorting it out.

I think you should offer your friend part loan, she contributes to his costs but doesn't have part ownership of him at all.
 
[ QUOTE ]
What's going to happen when the two of you fall out? Your horse will be piggy in the middle and you will have an extremely hard time sorting it out.

I think you should offer your friend part loan, she contributes to his costs but doesn't have part ownership of him at all.

[/ QUOTE ]

I know. I have thought of that many times. If we disagree with his care, it could lead to fall outs and then what? Thankyou for sheding light, everything is clearer when its heard from someone else.
 
It isn't something I would do - it could lead to all sorts of arguments. For example if a big vets bill came in, would she pay half? What if she decided she wanted to 'sell' her share. What happens if one of you has a different opinion on vet treatment / working / work / competition etc. If the horse had an accident when you were riding, and could not be ridden etc, would you buy her out / agree to PTS if she doesn't agree with vet costs / wants the insurance? I personally would say that you don't want to sell part of your horse but you will happily share responsibilities when it comes to care, riding etc.
 
I would go very careful - I bought a horse with my friend - we split the initial purchase price 50/50 and the livery costs and care were supposed to be all 50/50.

As time has gone on my friend has got into financial difficulties and as I result I have been paying for our horse solely on my own since October (nice big winter bills) Luckily she has agreed that she owes me lots of money in upkeep and has admitted she cannot longer afford her - and I am lucky that I can afford all the bills, so I am taking over her ownership soon and will be looking for a sharer that has her on a part loan basis and will not buy into her.
 
ok, so how do costs work on a part loan? Is everything spilt down the middle with basic care. Vet care met by the owner, or depending on what caused the vet to come out? I.e accident while loanee is riding? would she need to foot some of the bill?
I guess you've just got to put down what you want right at the begining and not mess around with it half way through.
 
With my sharer, she pays me £x a month, and that's it, which is roughly equal to the proportion of time she has her in relation to the cost of keeping her, if that makes sense? I am responsible for all vet and farrier bills etc, as the cost of shoeing is factored into the amount she pays me. Get everything in a loan contract and sorted out so there can be no arguments about it.
 
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