Joint ownership on horse

[mybaileysglide]

Hi,
Me and my friend are thinking of going halves and buying a horse together. I was wondering if anyone knows about joint ownership and putting 2 names on the passport etc.
I cant find any info on this apart from for racehorses, not sure where to look.
Any help is appreciated

 

[Cowpony]

Sorry, no help on the passport question, but be very, very sure you document exactly who is responsible for what, who gets to use the horse when, what happens if one of you wants to sell etc. It can work well or it can cause a huge falling out!

 

[flying_high]

I think one of you as legal owner and other as sharer work better?

 

[holeymoley]

I have no idea but make sure you get things written down as it could get very messy if things go wrong.

 

[Toby_Zaphod]

Before you do anything consider the costs of owning a horse. Insurance, vaccinations, shoes, hay, feed, livery, tack, rugs etc & then decide that you can afford it, Once that is done draw up an agreement that puts everything in plain language that states what the arrangements are & who pays for what. I don't know about having more than one owner on a passport but the passport does not prove ownership. Put in the agreement that the horse is owned by you both jointly. When completed both sign it, initial any errors or changes & get the signatures witnessed. Then go ahead with your venture. On the other hand for not a lot of money a solicitor could draw you up an agreement. Either way an agreement is crutial because you may be friends now but something may happen & you fall out& that can cause real problems.

 

[elliejhb]

Both my horses are registered under mine and my husband's names, we both signed the amendment form.
Not sure how it would work with 2 different home addresses?

 

[LaurenBay]

I'd be very wary about owning 50/50. You need to make sure you are in complete agreement regarding the management of the Horse. For example what if one of you wants to change feed, bedding, tack etc and the other doesn't agree. As you both own the Horse could end up in quite a few arguments.

 

[Ellzbellz97]

Filled in a new ownership form for my new mare on her passport and I'm pretty sure it had an extra signature part if there was more than one owner of the horse, that was with Sport Horse Breeding GB. Agree with Lauren Bay, I'd be wary about owning 50/50 just as it could cause a few arguments, but good luck in your search

 

[Theocat]

What will you do if the horse gets injured because of one person's negligence?

What will you do if one of you wants to sell?

What will you do if one of you wants to move yards?

What will you do if you disagree on feed/tack/whether the horse is lame?

What happens if one of you turns out not to ride in a way that suits the horse and the other owner suffers? (Heavy handed or razzing it around)

Will any of it be lopsided- like using one person's transport all the time? How will the other person make up for that? It could easily be an issue.

If someone doesn't pay their share, what happens?

You need to be very very clear about why you're sharing and that you really are both on the same page.

 

[Araby]

I initially joint shared a loan horse with a friend, in theory it should of worked, in reality it didn't. As no one had the final say. She pulled out in the end and I eventually brought the horse. I think someone needs to 'own' and someone to share, although we thought we were on the same wavelength we weren't in reality and soon things went wrong, not good for your friendship.

 

[TPO]

I've known of people who were really good friends and even relatives (aunt and niece) who have went into shared ownership. Once the honeymoon was over it's always fallen apart drastically.

I would strongly advise against it. I don't mean to rain on your parade. There is so much to consider when owning a horse without factoring in another person.

Take your time, don't rush in, discuss every scenario no matter how unlikely it seems (job loss, injuries (people and horses), one person wanting to change days/money/ownership ...the list is endless) and then document it. Be very careful

 

[tankgirl1]

I wouldn't do it. Fell out with a very old friend over something similar

 

[emilylou]

I have done this before and IT DIDNT WORK! Or rather, my parents bought a horse for my sister and one of her friends owned the other half. It lasted okay for about a year but the short story ended with my mum driving to the bank to get the cash to pay them to leave and never return after an enormous argument that was the result of several months of issues. My advice would be DONT do it. And if you do, you need to sort all the details first, everything. But it will probably still fail. Sorry. I would save yourself the heartache

 

[ILuvCowparsely]

Hi,
Me and my friend are thinking of going halves and buying a horse together. I was wondering if anyone knows about joint ownership and putting 2 names on the passport etc.
I cant find any info on this apart from for racehorses, not sure where to look.
Any help is appreciated

I have done it 3 times now - but we have contacted the passport agency for advice it can be rewarding - but it depends on the horse and who is going to do what - currently part own a donkey and we split everything thing

 

[ILuvCowparsely]

I have done it 3 times now - but we have contacted the passport agency for advice, it can be rewarding - but it depends on the horse and who is going to do what - currently part own a donkey and we split everything thing

 

[Mule]

Be careful op. I know two people who shared a racehorse. The horse didn't turn out to be any good and one of the owners sold it for meat without telling her friend😱
Needless to say that was the end of the friendship...

I co-own a horse with a family member and while agreeing on management can be difficult neither of us are going to sell the horse for meat!

 

[Goldenstar]

Easy to own a horse 50 / 50 ,passport is easy one of you is the registered keeper it’s got nothing to do with ownership you need some paper work and a paper trail that establishes the situation at the beginning .
But I suspect it will be harder to make to work so you and your friend need to do some serious talking and think about what if type of situations before you take the plunge.

 

[Translationsneeded]

I did it once. My ‘friend’ decided one day that she didn’t want to continue the arrangement anymore and walked away that day from all responsibility and costs. Very stressful and expensive

 

[Shooting Star]

I have done it before but it was before the days of needing a passport, in our case we got both owners shown on the breed society certificate.

I do though echo what others have said regarding being very clear on responsibilities for both care and costs and also what happens if one wants to sell.

I ended up buying my friend out at a sensible price and could afford to own by myself but what would either of you do if the other couldn’t afford to buy the other half and pay all keeping costs?