Seeking help with purchase agreement!

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ItsJzo

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Hi guys and girls....

I am new too this website although have been aware of it for a while!!

I am stuck and need some help, I am soon buying a new horse on installments, owner & I have spoken loads and loads over past few days, and we have come to the agreement that because he is not really pricey, she is happy for him to come to me after he has been gelded, and I pay for him in 2 seperate installments in a 2 month period.

I know it doesn't count for much but for her piece of mind I have told her I will create some form of purchase agreement and have 3 witnesses sign it, my manager at work, my part loaner I currently already have and the lady who will be transporting the horse.

I just need some help creating this document, I am not sure where to start or finish as it's something I haven't had to do before so could anyone give me some help with the layout??

I thought something along the lines of..

PURCHASE AGREEMENT

Type: HORSE

Age:

Name:

Description:

Amount paid by 27th June 2012: £.....

Amount outstanding to be paid before transfer of ownership is completed: £....

Amount to be paid by:

Transfer of ownership from ............ to .............. will be completed for HORSE described as ........................... once full payment is recieved by .........................


I know its not a great document, it really is new to me as it's something I haven't had to do before.

I suggested a BHS loan agreement but she stated that something like this would be fine and probably more appropriate.


Thanks in advance for everyones help, its been bugging the hell out of me as have been typing up rough drafts and trashing them as they don't look very good!
 
I would put the dates for each instalment on it, with the last noted as the final one.
1st payment of £?? paid date

2nd payment of £?? to be paid date

3rd and final payment £?? date
leave a space for signatures by each one so it is clear you have paid, especially if any is in cash.

The ownership of ??? to be fully transferred upon final payment

One thing to consider if you have not is insuring him, if he is not fully yours it could be more complicated but he needs to be insured in case something happens before you have finished paying.
 
be positive said:
I would put the dates for each instalment on it, with the last noted as the final one.
1st payment of £?? paid date

2nd payment of £?? to be paid date

3rd and final payment £?? date
leave a space for signatures by each one so it is clear you have paid, especially if any is in cash.

The ownership of ??? to be fully transferred upon final payment

One thing to consider if you have not is insuring him, if he is not fully yours it could be more complicated but he needs to be insured in case something happens before you have finished paying.
Click to expand...


Thank you for that - I will use this type of template, and yeah I will definitely be insuring him before I collect him anyway, but I will have a look at the different options and will insure him as appropriate.

Thanks again for your help :)
 
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