Horse sold on payment plan

[Tombraider1985]

Hi all
After some advice I sold pony back to old owner
Was paid a deposit and the rest to be paid over the next two months
Had the pony 3 years before selling back
Problem is first payment is not due for another week and he is being advertised for sale
Surely she can not sell him without paying in full?
Signed contract in place regarding the payment plan too

 

[bonny]

Maybe they are hoping to sell the pony and then pay you back ? Why not ask them instead of us !

 

[Tombraider1985]

Maybe they are hoping to sell the pony and then pay you back ? Why not ask them instead of us !

Appologies for asking bonny, I was only after advice, I don't want to go jumping in upsetting the person.
I was just asking for opinions on the situation

 

[alainax]

There are a couple of ways to look at it, and it will depend on the agreement you had.

Firstly, she owes you the money, not the pony. As long as she pays you the money at the specified time, then all is well.

However, you could not sell a car on finance. As the company reserves the right to reposes the car. Did you stipulate that if the money was not paid you would reposes the pony?

 

[bonny]

Appologies for asking bonny, I was only after advice, I don't want to go jumping in upsetting the person.
I was just asking for opinions on the situation

No need to apologise, why not ask the owners though or if you are worried about the legal situation you need to get a solicitor involved but my first step would be to find out what's going on.

 

[Tombraider1985]

There are a couple of ways to look at it, and it will depend on the agreement you had.

Firstly, she owes you the money, not the pony. As long as she pays you the money at the specified time, then all is well.

However, you could not sell a car on finance. As the company reserves the right to reposes the car. Did you stipulate that if the money was not paid you would reposes the pony?

It was stated that she did not own the pony until money was fully paid, by set date
So my understanding is that she is selling a pony she does not own

 

[Tombraider1985]

Thanks for the advice bonny

 

[Exploding Chestnuts]

I had something similar, her solicitor told me to get the money off the girl, it was a debt.
However I had made it clear that the horse belonged to me until the money was paid in full. As the horse was being abused I got it back, and tore up about £3000, not to mention stress that nearly put me under the ground.
You must act immediately.
In writing / email which you print off, don't text or squabble, make it clear that as soon as the cash is overdue you will go and get horse and all kit and passport.
Tell the YO you are going to remove your horse, it is likely she has not been paid either. Tell YO you own the horse and it is not for re-sale.
What I did was tell the local vets that the horse belonged to me and under no circumstances should they issue a passport.

 

[Exploding Chestnuts]

First you have to decide if you want pony or cash, cash is easiest.