How to get a legally binding 'first refusal' doc - specialist hose solicitor???

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canteron

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I have decided I have too many horses. After consideration, have decided to sell the younger prettier horse as he is the 'hard to find' type and hopefully I should be able to find him a great home somewhere. But if he broke/wasn't suitable/things changed, he would always have a home here.

Also, money isn't such a consideration - but home is. I would however like first refusal if he were to be resold ..... I have a feeling most solicitors would not have a clue about this and wondered if there was such a thing as a specialist horse solicitor where this would be something they have done often before.

I have a funny feeling that if it were just a letter it would have absolutely no legal standing and I want to do it properly.

And before anyone mentions loaning .... I have loaned before and found it quite stressful even though it was to a great home (but girl had v temperamental boyfriend who was very resentful of the horse and made that clear) it was quite stressful and I don't think I want to take that on again!!!

Any advice???
 
I think youre right, that a basic 'letter' or contract would have no legal standing. If youre a member of the BHS give their legal helpline a call as they will have horse specialists obviously.

I do think you might find it hard to sell, possibly, with a legal clause like this, I know I wouldnt entertain buying one with such a clause (although, just checking, would first refusal to you be at a fair market value to reflect any work the new owner has put in, or would it be at the original selling price? As the first, possibly, second, no way)

Definitely BHS helpline though :)
 
unfortunately, i don't think you would be able to have such a document drawn up and if you could I doubt very much it would be worth anything in court after all once the horse has been purchased its no longer your property and new owner can do as they wish. Obviously, if you stay in contact with the new owners which as you say, home is more important than price the chances are you will have a good relationship with new owners (I certainly do with my horses old owner) and if they are aware of your wishes would revert to you anyway, I know I would offer my boy back to his old owner if I decided to sell but this would be entirely good will - sorry if this isn't the answer you wanted, I know a couple of good equine lawyers so if you want to PM me I will send you their numbers.
 
I think we've had advice from a legal eagle on here in the past that you can't draw up a legally binding agreement stipulating this. I think it would put many buyers off to be honest, I wouldn't sign one.
 
interesting as there is a similar clause in the agreement i signed when one of my horses was gifted to me, it states that the owner relinquished all rights to said horse but i have to offer him back to them if i can no longer keep him. I've never bothered checking if it was legal and would stand up in court as i have no intention of selling him and as her FIL was a barrister i assumed it would be legal:confused:
 
How about (if money isn't an issue) saying to them that'll you'll put a % of the purchase price or £250 for example to one side / in a bank account and then if or when they decide / need to sell they give you first refusal and you will also give them that bit of money from the original sale ?
 
I know you said you don't really fancy loaning as such but if you advertised him for market value you could then get a contract drawn up for permanent loan with the right potential buyer, including clauses that would protect both of you.
 
I can see first right of refusal for an older horse, maybe. But I would never ever buy one with a refusal clause.

Here's why. I buy the young pretty horse. I put miles on said horse by spending the time and money. I then decide to sell a horse that now has value. I don't need old owner yammering on about how they sold horse to me too cheap, if not for me you wouldn't have something that nice to sell. And then the "see you in court". I have heard it happen this way to a friend. It came to nothing eventually but what a headache.

You sell, you sell. I've sold horses I've hoped were doing ok. 9 times out of 10 the owners love to give me an update. If they decide to sell so be it. They are the owners. Doesn't make me a person who doesn't care.

Terri
 
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