This form is an Agreement to Purchase a Horse as Co-Owners. The form includes the necessary terms for a valid contract. This deed complies with all state statutory laws.
Palm Beach Florida Agreement to Purchase a Horse as Co-Owners
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-04335BG
Format:
Word;
Rich Text
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Description
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How to fill out Agreement To Purchase A Horse As Co-Owners?
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FAQ
You will have to tend to feeding, grooming, and exercise every day as well as buying feed, cleaning and repairing tack, maintaining facilities and much more. Many parts of horse ownership require hard physical labor: shoveling manure, toting bales, carrying water, training and riding.
To ensure a potential sharer has a good understanding of your horse, approach sharing in the same way you would if you were selling him. Explain your horse's temperament, give them details about the way in which he's been ridden and provide them with a run-down of his medical history.
Responses to a horse-ownership survey from the University of Maine found that the average annual cost of horse ownership is $3,876 per horse, while the median cost is $2,419. That puts the average monthly expense anywhere from $200 to $325 on par with a car payment.
Many people in the horse industry believe that the person named on a horse's registration papers is the horse's true, legal owner. However, courts in a few states that examined the issue have, in fact, reaffirmed that the name appearing on the horse's breed registration papers may not necessarily be the horse's owner.
Joint Ownership This type of ownership can consist of between two and 12 people jointly owning the horse. The racehorse, or racehorses, can run in a joint ownership name.
Ownership of a horse may be established in a Bill of Sale, a written agreement between the seller and buyer (or agents such as trainers or bloodstock agents) or by contract construction. Many states now require the use of a written Bill of Sale in connection with most horse sales.
Often, horse co-ownership agreements will allow each co-owner to insure their respective share in the horse and they are responsible for the cost of the same. Responsibility for taking out third party liability insurance should also be included in the agreement.
In the UK, there isn't a single, approved document that proves ownership of your horse. However, certain documents can go towards evidencing ownership in the eyes of the courts. These include a purchase receipt, your historic bills from vets or farriers and old insurance documents.
Paperwork: When purchasing the horse ensure you obtain a signed receipt for your money and you may also want to consider a sale contract. The sale contract should state the terms and conditions that the horse was purchased under. If you are a Gold Member of the BHS use our 'Sale Agreement' service to help you.
