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.
A Washington Horse or Stallion Syndication Agreement is a legal contract that outlines the terms and conditions of a syndicate formed to collectively own and manage a horse or stallion for breeding or racing purposes. The agreement establishes the rights, responsibilities, and obligations of the syndicate members, as well as the division of ownership and financial contributions. In Washington, there are various types of Horse or Stallion Syndication Agreements available, tailored to meet specific requirements and objectives. Some of these agreements include: 1. Breeding Syndication Agreement: This type of agreement is formed when the syndicate intends to use the stallion for breeding purposes. It includes details on the number of shares available, the cost of each share, and the specific breeding rights granted to the members. 2. Racing Syndication Agreement: This agreement is formed when the syndicate aims to race the horse. It outlines the racing strategy, training regimen, and competition schedule. It may include provisions on the distribution of prize money and any other financial considerations related to racing. 3. Dual-Purpose Syndication Agreement: This type of agreement combines the aspects of both breeding and racing syndication. Syndicate members can participate in both breeding programs and racing events, with the agreement specifying the rights, benefits, and responsibilities in each area. The Washington Horse or Stallion Syndication Agreements typically cover various important aspects, including: Ownership: The agreement identifies the syndicate members and their respective ownership shares in the horse or stallion. It sets forth the division of ownership percentages, detailing the exact interests and stakes held by each member. Management and Decision Making: It outlines the syndicate's governance structure, including the appointment of a syndicate manager or managers. The agreement establishes the decision-making process and procedures for important matters such as horse care and training, breeding selection, racing participation, and the sale or retention of the horse. Financial Obligations: The agreement specifies the financial requirements for syndicate members, including the initial purchase price or breeding rights cost, ongoing maintenance expenses, veterinary fees, insurance premiums, stud fees (if applicable), and other costs associated with owning or racing the horse or stallion. Breeding Rights: In a breeding syndication, the agreement defines the breeding rights conferred upon members. It may include provisions on the number of breeding per season, the division of proceeds from the sale of offspring, and any limitations or restrictions on breeding agreements. Term and Dissolution: The agreement establishes the duration of the syndicate and provides provisions for its termination or dissolution, including circumstances under which the horse or stallion may be sold, retired, or placed elsewhere. Liabilities and Indemnities: It addresses the liability of syndicate members and provides indemnification clauses to protect the syndicate against legal claims arising from horse-related activities. By specifying the rights, responsibilities, and financial obligations, the Washington Horse or Stallion Syndication Agreement helps ensure a clear understanding among syndicate members and provides a legal framework for the successful management of the horse or stallion.A Washington Horse or Stallion Syndication Agreement is a legal contract that outlines the terms and conditions of a syndicate formed to collectively own and manage a horse or stallion for breeding or racing purposes. The agreement establishes the rights, responsibilities, and obligations of the syndicate members, as well as the division of ownership and financial contributions. In Washington, there are various types of Horse or Stallion Syndication Agreements available, tailored to meet specific requirements and objectives. Some of these agreements include: 1. Breeding Syndication Agreement: This type of agreement is formed when the syndicate intends to use the stallion for breeding purposes. It includes details on the number of shares available, the cost of each share, and the specific breeding rights granted to the members. 2. Racing Syndication Agreement: This agreement is formed when the syndicate aims to race the horse. It outlines the racing strategy, training regimen, and competition schedule. It may include provisions on the distribution of prize money and any other financial considerations related to racing. 3. Dual-Purpose Syndication Agreement: This type of agreement combines the aspects of both breeding and racing syndication. Syndicate members can participate in both breeding programs and racing events, with the agreement specifying the rights, benefits, and responsibilities in each area. The Washington Horse or Stallion Syndication Agreements typically cover various important aspects, including: Ownership: The agreement identifies the syndicate members and their respective ownership shares in the horse or stallion. It sets forth the division of ownership percentages, detailing the exact interests and stakes held by each member. Management and Decision Making: It outlines the syndicate's governance structure, including the appointment of a syndicate manager or managers. The agreement establishes the decision-making process and procedures for important matters such as horse care and training, breeding selection, racing participation, and the sale or retention of the horse. Financial Obligations: The agreement specifies the financial requirements for syndicate members, including the initial purchase price or breeding rights cost, ongoing maintenance expenses, veterinary fees, insurance premiums, stud fees (if applicable), and other costs associated with owning or racing the horse or stallion. Breeding Rights: In a breeding syndication, the agreement defines the breeding rights conferred upon members. It may include provisions on the number of breeding per season, the division of proceeds from the sale of offspring, and any limitations or restrictions on breeding agreements. Term and Dissolution: The agreement establishes the duration of the syndicate and provides provisions for its termination or dissolution, including circumstances under which the horse or stallion may be sold, retired, or placed elsewhere. Liabilities and Indemnities: It addresses the liability of syndicate members and provides indemnification clauses to protect the syndicate against legal claims arising from horse-related activities. By specifying the rights, responsibilities, and financial obligations, the Washington Horse or Stallion Syndication Agreement helps ensure a clear understanding among syndicate members and provides a legal framework for the successful management of the horse or stallion.
