The attorneys at Mylod & Fitzgerald aim to prevent lawsuits. The way we do this is by focusing on proper paperwork that limits the liability of our clients.
Leasing a horse allows a person to experience the responsibilities and benefits of horse ownership without a permanent commitment. Equine lease agreements are popular in New Jersey, yet surprisingly, some people lease a horse based upon a mere handshake or use agreements which are vague and full of ambiguities. This exposes the parties to the possibility of costly problems down the road. A comprehensive lease agreement is necessary to facilitate the lease of a horse, and should be negotiated between the parties with the help of equine attorneys.
A few things to consider when participating in a lease transaction:
- Who is the owner and who is the leasee?
- What is the cost of the lease?
- What is the term of the lease? (Examples: Month-to-month, six months, yearly)
- When does the agreement begin and terminate?
- Who is responsible for paying for routine veterinary care and non-routine (emergency) care?
- Where is the horse to be kept?
- How can the horse be used?
- What are the restrictions? (Jump height, rides per week, ect.)
- What are the training and showing restrictions?
- Can the horse be used for recreational trail riding?
- What is the standard of care that the horse must receive during the lease?
- Can the Leasor inspect the horse? If so, how often?
- Who is the Leasee allowed to train with?
- Is the horse insured with equine insurance during the lease?
- What happens if the horse becomes lame mid-lease?
These are just a fraction of the considerations that should go into a lease agreement. It doesn’t matter if you are leasing a $1,000 horse or a $100,000 horse, a carefully worded written contract can prevent a legal dispute. The contact will ensure that both parties have the same understanding of the agreement being entered into. This will help to avoid a legal battle which will not be quick, easy, or cheap to resolve. The legal fees to prevent disputes through a solid lease agreement are minor in comparison to the potential legal fees in connection with equine litigation.
If you have any questions about securing your interests, call Mylod & Fitzgerald at (732) 830-6464, or contact us HERE.
*All photos in this post are used with the permission of the owners*