Very unpleasant situation.

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showqa

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I'm in a very unpleasant situation. I co own a horse and the daughter of the co owner rides it. The horse was bought with a view to selling on (just six months ago), but they are now being very resistant about this. In fact, I WAS prepared to keep the horse a while longer but after being expected to pay for very expensive training clinics - 6 in 6 months! - I have said I want the horse sold. There have been many incidents where it is clear that they have been less than transparent and now I have discovered that in the last two BD comps the rider listed herself as the owner. He is due to compete at a high profile show this weekend (BD) and once again, she has listed herself as the owner. I have been in touch with BD and I'm awaiting their reply. Next week I want the horse to go up for sale and if they want to buy me out, fine. However, they are now trying to drive the price down and I'm sure they will obstruct any would be buyer. I'm not wanting to get rich off the back of a horse, but likewise I will not be ripped off. Can anyone advise please? Thanks.
 
HeresHoping

HeresHoping

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Sorry for your predicament. Yes, I have some advice. Do you have an ownership contract? Do you have receipts for all aspects of the horse you have paid for? Do you have access to all correspondence and agreements to the horse? And do you have access to an independent party who can place a value on the horse?

I strongly suggest that you get yourself a good equine lawyer's viewpoint on this because by the sounds of things, this is not going to be an easy fight. And, if not acted upon in an appropriate manner, can result in many losses all around. Your BHS membership can give you access to some top-rated advice in the first instance.

From my own perspective (business law), I also strongly suggest that you keep this off the Interweb other than for non-emotive/emotional requests as going public can impact the case.

There is a list of Equine Lawyers on here somewhere - the search button still works well, I think. Please feel free to pm me if you get stuck. I can give you the name and contact details of someone to talk to - although they are not on that list.
 
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almostthere

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You have my sympathy having been in a similar situation WITH a contract. I would follow HH's advice and get a lawyer familiar with equine matters and fast. I tried to sort it out myself over many very stressful weeks and just lost more money and heartache. Lawyer sorted it in a few weeks. Yes it cost but it was clean and simple. I used Jacqui Fulton who advertises in H&H and she was great. Good luck!
 
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Bestdogdash

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Russian Roulette. Ask them for £x amount for your share, but be prepared to pay the same for theirs. So if, say the horse is worth £10,000 in total offer them £5k for 50%, but also say if they don't want to pay, then you will give them £5k for theirs. That way no one feels ripped off and they always have the opportunity to set the price too, but can't go higher than it is worth in case you say ok to their offer.

Works a treat, and the courts like it too, should you ever end up in a legal dispute. Shows you have done everything reasonable to dissolve the partnership.

Alternatively, send it to auction, either party can bid to buy it back in an open arena. I personally would insist that the horse goes to an independent party to ride/sell.
 
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Kelpie

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Bestdogdash said:
Russian Roulette. Ask them for £x amount for your share, but be prepared to pay the same for theirs. So if, say the horse is worth £10,000 in total offer them £5k for 50%, but also say if they don't want to pay, then you will give them £5k for theirs. That way no one feels ripped off and they always have the opportunity to set the price too, but can't go higher than it is worth in case you say ok to their offer.

Works a treat, and the courts like it too, should you ever end up in a legal dispute. Shows you have done everything reasonable to dissolve the partnership.

Alternatively, send it to auction, either party can bid to buy it back in an open arena. I personally would insist that the horse goes to an independent party to ride/sell.
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This! I love this clause in business contracts also :)

...... but I'd still get some legal advice as you want to make sure any sale contract stands. Perhaps look for a lawyer who can do some arbitration for you? Or if the amounts involved don't justify all that, as Goldenstar says, just agree a price and get out fast...... what you can spend in legal fees/ wasted time/ heartache needs to be weighed against what you feel you may loose in the sale price.
 
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canteron

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If you don't have a contract, then it might be easier to take a loss and learn from the experience. Personally, I would not want the legal hassle unless it was really worth a lot.

Sadly, a lot of us learn the hard way. I went into partnership with a now ex-friend over a horse. She wanted to bring it on to sell from a bit of a bad home, but didn't have the money to buy it. So we agreed, I would buy the horse, pay some costs and she would look after it and do the riding. However, after a week (!) she decided she couldn't be bothered and dumped the poor horse on me. I then paid out to have it reschooled professionally before selling. All in all I think this cost me about £2,500. But I decided to wipe my nose, get on with my life and just be a bit more cautious about my friends when it came to money!

I have seen too many people become bitter and miserable because they want to stand on principle. Life can be too short.
 
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