Some suggestions about contract language follow, with an important caveat: An important consideration is whether the horse owner can legally sign the contract.
A minor (someone under the age of 18 in most states) lacks the legal capacity to enter into a binding contract.
Horses owned for simple recreational pleasure will only set you back about ,000 to ,000. Most horse owners are wealthy, or at least highly affluent, fully capable of purchasing their horses with cash.
But, if you want to buy a horse for hunting, jumping, or for show, you can easily drop from ,000 to ,000; and that’s just for the horse. They will purchase a ,000 or 0,000 horse mainly because they can.
For example, for borrowers with good to excellent credit, Light offers equine loans up to 0,000 to cover anything equine-related, including the trailer, the barn, and a hay-burner.
Its current best rate of So, there are several ways to finance the purchase of your horse. ” Horses at any price are considered a luxury item, which, for people who can’t afford it, probably means they shouldn’t buy it.
A part of the problem is that horses depreciate in value over time.
If you asked a horse person why they do it, they will tell you it’s not just about the riding; it’s about being with them, caring for them, just having them in their lives – so much that some people will go deep into debt for them all the time.If your contract is a generic, fill-in-the-blanks contract downloaded from the Internet or copied from a book, it probably will not accomplish what you want it to do—protect your business—or satisfy the law in your state.There won’t be a blinking warning light to alert you to problems with your boarding contract, so pick a time each year to review the agreement and make the changes necessary to have the document mesh with your business plan.Because the horse remains on the property of the seller, the buyer may be responsible for board and care costs.
In almost all arrangements like this, the buyer is required to buy medical and mortality insurance.Under an installment arrangement, the buyer takes possession of the horse after making an initial installment.