Loan with View to Buy agreement.....

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Parkranger

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Just working out what I want to put in any agreement that should go with my boy if I find a suitable home.
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If I find a good loan home for him, the idea is that in 6 months to a year, if he's getting on well the loanee can purchase him for a nominal amount.

I'll use the standard BHS loan agreement but wanted to add in the following:

I'm going to provide a £200 saddle and bridle and basic rugs for while he's loan so I want going to lay out the following in the agreement:

1. on return or purchase of horse, tack and rugs to be returned in the condition they were lent in. Price can be negotiated for loanee to purchase.

2. loan to last for 1 year with 1 month's notice on either side.

3. If purchased and purchaser decides to sell horse, previous owner to be given first refusal at £(to be agreed on sale).

I can't think what else to add - may be completely naive about the selling back thing but I really don't want him to get into the wrong hands
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any ideas greatly appreciated as I'm a bit clueless at this.

Cheers x
 
I'm not sure, but I don't think the 'selling back' clause would actually stand for anything. Ie if they bought him, and then sold him, you couldnt do a thing about it.
 
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I'm not sure, but I don't think the 'selling back' clause would actually stand for anything. Ie if they bought him, and then sold him, you couldnt do a thing about it.

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that's what I thought - that's what worries me.

Trying to work out ways I can keep him and another....
 
The only way to ensure he doesnt end up in the wrong hands if you cannot afford to keep him is to have him PTS. And I know that isnt an option for you.

What about giving it time, keeping him as is, getting a loaner, and just keeping an eye on him. if all's well after a few months then you can sell him (as by then you'd know the loaner). If it doesnt work out, what about putting him on retirement? Don't stress yourself trying to afford two, because one will miss out somewhere. Is it possible a charity might take him and loan him for you? If you paid them to take him? then they'd actually own him, and could make sure he was safe etc.
 
I think I'll just loan and then see how things go. I know it's stupid but I've turned him around on the ground and him trusting people and would hate that to go to waste......
 
I bought my horse for a very nominal sum (£5) after having had her on loan for 6 months. This was the owners idea, completely out of the blue as they were very happy for me to have her.

It was all done by e mail and I agreed that I was to only "sell" her back to owner for the same price. They are extremely professional business people and told me that an e mail was a binding contract. I was also given the saddle for up to two years (providing horse was still with me and alive) and after that it passed to me. (I returned saddle however as she outgrew it and bought my own).

When we loaned New Pony - I paid a £200 deposit on the saddle returnable when pony went back.

I think if you find a nice genuine home and keep in contact with them - everything should be fine. Not all people who loan horses are devious!! Good luck.
 
Not seen the BHS loan agreement so may be repeating things they include but what about clauses covering the following:

1. Address where your horse is to be kept.
2. Conditions for moving the horse to a new address should the need arise.
3. Who is to responsible for costs such as vet, insurance etc.
4. On what system is the horse to be kept i.e. must be in at night and turned out daily etc especially if your horse has any special needs.
5. If you a paying for the insurance make it clear who is actually covered to ride your horse, you will need to read the small print of your insurance policy carefully.

Sorry if I have duplicated anything in the BHS Agreement. Years ago I drew up a loan agreement for one of my horses, I know is sounds particular, even included a basic clause to say that my horses mane must not be hogged!

At the time I was in a position where I could have the horse back at a drop of a hat and included a clause that, should the loaner be in breach of contract, I could remove the horse with 48 hours notice and they would be responsible for transport costs.

You are obviously giving the whole thing lots of thought and I hope it all goes well for you.
 
Thanks MrsT, I think that the BHS agreement covers most of that - not worried about someone hogging my TB's mane though ;-)

Although you never can be too sure!
 
Loan with view to buy is working really well for us (morning epsom!) as the boy we have has a lovely nature, but put in a couple of little cheeky bucks when we went to view him, with my novice husband toppling off! If it had been an outright sale we may have been put off by that, but we've had him about 7 weeks now and he's lovely. He is a traditional cob, and his loan agreement has extras in it ie no trimming of hair, always to live out, no rugs (unless torrential and gales!) etc. He is on a 3 month loan, with view to buy at the end.
 
hi can i just ask wat type you got , im in bristol lookin for a loan wv2 buy, but he or she must be min 15.3 , for happy hackin fun rides and to teacher my yearling..
 
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