Horsebox Share Agreement - Any Ideas please?

[angieb]

Hello everyone,

I am looking for some advice please. A very nice lady on our yard has a horse box and has suggested that myself & my friend could share it with her and split the running costs in 3 equal shares. This would include tax, plating insurance,breakdown cover, servicing and repairs.

However the box is still owned outright by the lady but we get to use it as and when we want it, in fairness she hardly uses it at all so I am not concerned about that side of things. We have also agreed that the box is left full of fuel after we have used it, we just top up to fill it completely, and again in fairness to her she has filled it up to the top and doesnt want us to contribute anything to it for this full tank.

My concerns are

that we dont legally own any part of this box and if she decides to sell it tomorrow we will be approx £500 each out of pocket

What would happen if any of us moved yards ?

Should we have something written that says she must offer it to us first at market value if it needs to be sold ?

Would we be entitled to any money if she then sells it ?

What would happen if any of us had a bump in the box with regards to excess on insurance and also increased premiums next year

What sort of agreement should we draw up that covers everyone fairly


The lady is very nice and we get along fine but I know people who have had really bad problems with situations like this. She said we dont need an agreement, that we should just take the box whenever we want to but I strongly believe we need something in writing.

Can anyone suggest where I can find an agreement I can use or what sort of things it would need to say please ??

thanks for reading this

 

[Star_Chaser]

could you not just pay her a fee as and when you need it? Sounds like it could get very messy what would happen if you both needed it on the same day who would get priority??

 

[angieb]

could you not just pay her a fee as and when you need it? Sounds like it could get very messy what would happen if you both needed it on the same day who would get priority??

Thanks for replying. We did think about that, the problem with that was it cost £1500 to get it back on the road and she couldnt afford it on her own and we couldnt afford to buy our own box outright so financially it suits us all. With regards to using it on the same day we will have a calendar where we write down who wants it when and its unlikely we would clash as most of our stuff is done at weekends with the kids and hers is in the week as she competes at a higher level than us, she also works most weekends.

However if there ever was a clash I am sure we would just take it in turns, each of us would get priority at some point. She is a lovely lady and I am sure that it wont be a problem but just want to be sensible about it.

thanks

 

[wench]

I would just arrange to give some cash when you use it.