what exactly is permanent loan ?

[JLD]

I wondered if anyone could explain permanent loan. With a normal loan I understand the loaner or loanee can end the loan returning or retrieving the horse at any time within an agreed time scale but how does this work for 'permanent' loan. Is it basically giving your horse away ? Do both parties have the same rights as normal loan and if so how is it different ? Just wondered as my friend has been offered a permanent loan and neither of us really understand it !

 

[Cortez]

I have one, the only stipulation his owner gave me was: I don't EVER want him back! I consider this one the "free" horse. He has been signed over to me as owner too.

 

[Spiritedly]

It would depend on the terms of your contract but normally it means that the owner does not intend taking the horse back except under exceptional circumstances. So in a way it's handing over ownership in all but name, giving the owner the knowledge that they can always....in theory... ensure the horses well being.

 

[tankgirl1]

I would imagine that it means that as long as the terms of the contract are adhered to eg horses well being and welfare are up to scratch etc, then the loan continues indefinitely

 

[Polos Mum]

I would imagine that it means that as long as the terms of the contract are adhered to eg horses well being and welfare are up to scratch etc, then the loan continues indefinitely

I'd agree with this - some loans are for a fixed time frame, say 12 months, I say perminant is the same as indefinite. Unless you buy the horse, even for £1, it will still 'belong' to the owner and they can take it back and/or should expect it back if something goes wrong.

Why don't you just ask the owner what they mean?

 

[sandi_84]

There is a horse sanctuary up here that looks specifically for permenant loans for their charges.

It's basically a normal loan.

The person taking the horse accepts full responsibility for the horses welfare and upkeep, vets bills, jabs, work or not depending on if they are companions etc but it does not have a limited period like a 6 month loan it is literally for the rest of the horses life so in essence you become the horses owner.

I think they do it so they still have some say in the horses welfare - most of the horses they put out on permenant loan are rescue cases through abandonment/ neglect or abuse so they obviously want to ensure that the horse is given the best possible care for the rest of it's life.

 

[Flyermc]

My idea of a permanent loan, is a loan with no end date, so long as the horse is being well looked after.

Abit like a free horse, but it still belongs to the owner (the loaner cant sell it)

 

[mynutmeg]

My sister's tb is up for permenant loan and my last tb was put out on permentant loan. To me it means that basically the loan is permentant, it's as if the horse belongs to the loaner but the owner can keep an eye on things. For us it's a case of we don't want to risk the horse being passed around as neither are straight forward and my tb especially has been passed around repeatedly. It meant that should anything happen that meant the loaner couldn't keep the horse he would come back to me and be safe but I wasn't ever going to turn around and want the horse back.