Racehorse Syndicate Agreement Formula In Illinois

Category:
State:
Multi-State
Control #:
US-00039DR
Format:
Word; 
Rich Text
Instant download

Description

Stallion syndications are contractual agreements where multiple parties combine their financial resources to purchase a stallion for breeding purposes. Each contributor or "owner" owns a "fractional interest" in the stallion, typically entitling them to one breeding right per breeding season. The farm or individual syndicating the stallion will generally retain multiple fractional interests. The arrangement provides for lowered costs and a more diverse breeding for the stallion.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Syndication refers to a co-ownership of a horse, also known as a “co-ownership agreement” when made between two or more people. Each owner owns a fractional interest in the animal and the original owner is the syndicator and the manager.

Horse Racing Syndicates: How to Share Costs and Own a Racehorse Keep the partnership simple and get everything in writing. Find a horse you like and a great veterinarian you trust. Decide how many shares will be offered in a horse. Choose your trainer wisely. Map out a plan and consult with your partners and trainer.

More info

The syndicate manager should provide all potential investors with a detailed business plan and proposed syndicate agreement asking them to come up with cash. Complete Application.Such application form shall require the applicant to state the following: Essentially, they have an agreement to be coowners with fractional interests in a horse, such as a racehorse, breeding stallion, or show horse. The horses with the top ten points entered in each division shall qualify for the championship final. A Horse Bill of Sale is a legal document used to record the sale or transfer of ownership of a horse from one party (the seller) to another (the buyer). Authorizes the Illinois Gaming Board to conduct gambling operations on a riverboat or in a casino, through a licensed manager, within the City of Chicago. Uncluding the first version of the. '"'Author's Note" later cut down for the final version used in the book. Ownership Percentages Vary –.

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Racehorse Syndicate Agreement Formula In Illinois