not sure quite where i stand

[happyhacking:)]

i got an email today from the owner of the mare that i have had on loan for a little less than 12 months demanding that i either buy the mare now or hand her straight back. when i took on the horse it was under the impression that i had her on full longterm loan with view to buy as and when i wanted to. the owner and i took out a contract for 3months initially but at the end of the 3 months mutually agreed to continue the loan as it was indefinitely. im really not sure where i stand now with this. am i about to lose my lovely mare?

 

[maresRus]

I guess as the owner she can do that unless you have something it writing to state otherwise.

Have you been successful competing with the mare recently? Could her value have gone up and the owner want to capitalise on it? Alternativelyy some people are finding things hard financially at the moment and maybe the owner really needs to the money.

If your original contact had a notice period then maybe you might be able to use that. But if that has expired then not sure if you have a leg to stand on.

 

[PeterNatt]

Did you have a formal written contract or a verbal contract that you both agreed to?
If it was a verbal contract where there any witneses.
If so what where the terms regading giving notice to each other and notice from you if you wished to purchase the horse?

 

[thinlizzy]

pay the £50 to the bhs you get liability and free soliceters help line with specialist soliceters they will tell you legally were you stand good luck and update

 

[MerrySherryRider]

What are the terms of the loan contract ? When it was renewed was it still under the term of loan with view to buy ? It maybe a failure of communication that the owner was under the impression you would buy the mare. Do you not want to buy her now ?

 

[Wagtail]

I expect what you viewed as long term loan and what the owner thought are two different things. She probably expected you to buy the mare by now and is maybe panicking that you never will and the mare is getting older and losing value and she may end up with you sending her back worth less money or unsellable. I think if you have the money, and you like the mare then you should buy her. If not, then you need to come up with a timescale where by you agree to buy her within a certain period. If however, you cannot afford her in the near future, then you should be honest about this. You never know, she may decide to leave her with you indefinitely once your cards are on the table. But be prepared to have to let her go.