Questions about Co-owning

[Lil' Horse Lover]

I was just wondering for those of you who co-own horses what did you do? Contracts, prices, who gets papers, etc.? I might be co-owning one of my horses and would like to know the best way to go about doing so, I've never co-owned before.

Any and all advice will be appreciated, thanks,

Anna

 

[JourneysEnd]

I co-own two horses. Both are on my property and I have the papers on both. Actually on one of them I have the "r" papers and the co-owners have the "a" papers.

I also trust the people I co-own with more than I trust my family members.

On one horse the agreement is, I cover all feed, vet, training, etc for my share. Co-owners retain breeding rights. For this horse I'm a retirement home, not that he's that old.

The other they help with expenses and I work the horses and carry to shows for their daughter to show.

Major vet bills are shared.

If I were to co-own and the horse left my physical control, I would defintely have a contract with witnessed signatures.

So much depends on how much you don't want to lose the horse. For example, if you're co-owning as part of a sale. In that case you're willing to part with the horse, if the agreement goes south, you've just lost money.

The two I co-own I have a very Charlton Heston attitude about. They'll have to pry them out of my cold, dead hands.

 

[Lil' Horse Lover]

Thanks for the reply!

I'll be sure to write up a contract and make sure it has the signatures, she's agreed to that also.

Anybody else?

 

[Keri]

I've never co-owned, but I would definately have everything in writing. I would only co-own with one or two people becuase I trust them like family. We're talking about doing one together. She would show it in halter, then it would come to me after that for performance training and such. Feed/vet bills/show entries would all be split. Then we would trade off on pasturing/stalling the horse so one isn't stuck with a horse all the time that isn't all theirs. And we can both play around with the horse we own.

But we would split the cost of buying the horse and if it was sold, we would also split the cost there.

If you trust the person, go ahead. I would only do it if I knew I could work well with this person, could make rational decisions together, and trust the horse in both each other's care.

 

[wildoak]

I co-own a couple of stallions - I keep one on my property, she keeps the other. Both were shown at one time and we split expenses. Both stallions are available to each of us to breed, although I've only bred to the one I have for a number of years. We had them insured at one time but have let it lapse as both horses have paid for themselves and it became an unnecessary expense. Our partnership has been very casual, she is a good friend that I trust, and it has worked pretty well.

Jan