Selling a horse for a £1

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burtie

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Have you ever done it, or bought one for that amount or for free? How did it work out?

I am seriously contemplating offering my mare to her loaner for a £1 (of course she may not want her
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), as I don't have the time or money to do her in future and the current loaner thinks the world or her. It woudl be on the basis or first refusal if they can't keep her at a £1(yes I'm aware this has little legal value), but in reality due to a medical condition the mare is probably not worth much anyway.

I feel really torn and guitly about even considering it as I have owned this mare since she was 10 months, she is now 14 and have always said I would never sell her.

Should I just leave things as they are, part of me says if its working why fix it, but I know if I was the one loaning and I really liked the horse I'd really want to own it?

Not really sure what I'm trying to say, but if you have any words of wisdom please feel free to part with them!
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Put the horse on permanant loan with her. It is virtualy the same thing. That way you have a leg to stand on if they can't keep her.
 
We have one on long, permanent loan - think really he's just been handed to us. Owner visited a bit initially, christ knows where she's gone now! We did buy a Landrover (old) for £5 once but that was just for the legalities of paperwork i think!
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My friend bought her horse for a pound. He had been bred for eventing but some problems including arthritis in his neck as a 6 yo. The owners were going to have him pts. A friend who worked at the vets told our mutual friend about him knowing she wanted a gentle hack - which was all he was good for and our friend bought him for a pound. She followed vets advice of walking him for about 4 month before moving up to trot and took it really slowly with him and he has come sound is doing great. Obviously he will always have problems and if the arthritis gets really bad he will have to pts but my friend is aware of this, does her very best for him and they are having some great fun. She's had him for 2 years now.
 
I've done that before. I had 3 horses at the time and was in a bad relationship with ex OH. I just couldn't cope with looking aftre 3 and my little 4yr old mare was getting fatter and doing no work. My friend offered to help me out with her so I took her up on the offer. She was doing really well with her so I asked her if she wanted to take her off my hands. She paid me a nominal fee of £1 and the horse ended up going to a young girl who was the daughter of one of her friends.

I heard she was doing well last time I saw her, so it turned out well in the end. Much better than putting her through the sales
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I agree with Yorkshire Lass. Say she can have her on permanant loan but that way you know she can never sell her. Tell her she can call her her own and treat her as her own but then you still can look out for her!
 
Yes, I bought my mare for £1, from her ex-owner, who I see all the time. She really "gave" her to me, but we used the £1 so that there was an actual change in ownership and I had a receipt!
 


If you know you can trust your friend then I'd do it but maybe have it in writing legally that should your friend ever find herself not being able to keep her for any reason, that she is returned to you or you are given first refusal.

Or as others have said, just put her on long term loan & have it drawn up legally so you both know where you stand.
 
yep, i have just been given a mare who i had been riding while my horse was out of action and her owner had to give up but didnt want to 'sell' as she is very quirky!!!!
 
My big fat monster (at the moment!!) was free. Had an injury which meant she couldn't compete anymore. The lady who bought her from the previous owners, tried to cover her a few times and didn't take. So, was gonna have her PTS (only 9 at the time!!) unless I took her. Touch wood, been sound for 4 years and wouldn't be without her. We just had a change of ownership contract drawn up.
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I was given one 8 years ago. My friend and I signed a piece of paper stating that should I ever be in a position that I couldn't keep the horse, my friend would have him back or make a decision about his future home. Sadly, my friend died nearly 5 years ago, but I still have the horse - a wonderful gentle giant who will end his days with me.
 
A friend of mine did about 5 years ago from the people she used to work for. It could no longer do the level of work they needed it to. They just did the £1 thing to make it a legally binding sale (otherwise the law see's it as a gift I think).

Worked out perfectly and the horse has a home for life now.
 
I sold my ex p2p horse to a friend for £1 in 1993 - and she still has him! Don't know how she has kept him going so long, and he has cost her a fortune in vet's bills, but she obviously loves him to bits.

I bought a youngster from someone in 2003, and a few weeks later he rang to offer me his old broodmare as a gift, on condition she had a home with me for life. I took her on, and only after he had handed me the passport and I got her home did I realise he had given me one of the best and most prolific RID broodmares in the country! I only had one foal out of her but she is still mooching about the farm looking fit and well, and he occasionally rings me to ask after her. I still feel rather honoured.
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Id stay with things how they are. Someone recently said to me 'if its not broke then dont try to fix it'
 
There are 3 main elements to a contract of sale
1. Legal intention
2. Acceptance
3. Consideration. This is not consideration in the traditional sense. It is actually where you offer something for something else - you could give your horse in exchange for a pepper corn if you wanted!. If nothing is given as consideration for the horse then technically there is no contract.

If all the above are satisfed the transfer of ownership will be legally binding and legit.
 
I had a TB mare on permanent loan she was 16 at the time been passed around a bit and had a bad reputation (i didnt know that bit!) after a year the owner gave her to me as a xmas present as she wanted to sell her but didnt want her to go to anyone else but me, I adore that little mare she is quirky and was a fantastic ride, sadly i had to retire her about 5 yrs ago as she had a stroke but she is healthy and happy and she is now 28 and loves retirement. I keep her on DIY livery and she is a pampered princess lol..
 
i was given a tb that could no longer point to point and owner needed stable s i had him! e isnt worth much he windsucks for Wales pulls faces and has more knocks and scars than ricky hatton
 
If you know her well then its lovely but I would never give a horse away for that. Know someone that did this and the horrible person that took her sold her for meat and made £300. Therefore I would never sell a horse for less than current value for meat.

There are touts about that look for adverts for cheap/free horses so they can sell them for meat and make money.
 
My friend bought an ex-racer for a pound, a year later he's a super little horse. Different situation I know, but in your situation it sounds like a good idea. I was given my loan horse when the owner could no longer afford him, that's worked out good
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I bought my now retired dressage horse for one franc (10p) from my uncle (he lived in France) as a 5 year old, he is now 15 and as brillant as ever but riddled with injuries. We did it to make him legally mine. Best 10p i EVER spent he will be with me forever as he is ahorse of a lifetime.
 
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