My trainer and I are writing up a formal lease agreement for her (soon to be her partner's) horse. I've been leasing him for over 8 months, but we're writing out a real agreement since he's changing owners.
There are still some revisions to be made:
"This agreement is entered into this day, ____ and shall be effective until terminated by either party between _____ ("Lessee") and _____ ("Lessor"). The Lessee is agreeing to care for and maintain the 16 year old bay gelding Saboteur Victory ("Sabor") while is Lessee's possession and pay a fee of $ 100.00 per month in exchange for use of the animal for the purpose of riding and showing in accordance with the terms of this lease. The following terms and conditions shall apply for the length of this lease:
Monthly payments will be due on or before the 10th day of each month. Payments should be delivered to the Lessor directly, or via _____.
If the Lessee chooses not to lease the horse for one month during this agreement, 15 days notice must be given to the Lessor. The Lessee may resume the lease at any time and the lease fee will not change. If either the Lessor or Lessee wishes to terminate this agreement permanently at any time for any reason, written notice must be provided 30 days prior to the date the termination will become effective.
Lessee will have use of the animal up to two (2) days per week, and may ride the animal in any lessons taken by the Lessee.
The horse may only be taken to pre-approved shows, arranged a minimum of two weeks in advance. Transportation for the horse may only be provided by _______, _______, _______ or _______. Any other transportation must be pre-approved by the Lessor.
The Lessor shall not be held responsible for loss, damage, injury, claim, demand, cost and expense (including legal expense) arising out of or connected with the use, stabling, or actions for the leased animal while under the possession, use, or control of the Lessee. The Lessor will not be responsible for any accident or injury to any person or animal who comes in contact with the above names animal while under the possession, use, or control of the Lessee.
The Lessor agrees not to hold the Lessee responsible for death or veterinary care acquired due to death of the animal of natural causes, or any pre-existing condition the animal may have at the start of the lease. Should death of the animal occur due to improper care or negligence by the Lessee, any medical expenses acquired shall be the responsibility of the Lessee. The lessee will also reimburse the Lessor the estimated value of the animal at the time of the lease agreement. All regular veterinary care shall be provided by the Lessor, at no additional expense to the Lessee. The value of Saboteur Victory ("Sabor") is currently estimated at $ 12,000.00.
The Lessee may borrow any tack provided by the Lessor, and all tack borrowed must be returned in good condition. Any repairs needed, and any repair expenses acquired due to the improper care of the Lessee will be the responsibility of the Lessee.
The animal included in this lease shall remain the sole property of the Lessor. The Lessee shall have no right, title, or loan to any other part of said animal except as stated here.
The ________(stable) at _______ (address) is to be considered the principal home stable during the term of this lease, but permission is granted for temporary stabling at other locations for the purpose of showing, demonstrations, or other such activities. Prior approval from the Lessor must be obtained to change the principal home stable.
The Lessee shall use proper care and good judgment in maintaining and training said animal in quality show condition or as close to when lease began while the animal is under the Lessee's care and control during this lease. The Lessee will inform the Lessor immediately of any health concerns or injuries to the animal noticed or obtained while under the Lessee's care. The Lessee will be responsible for all fees, bills, and other expenses acquired by the Lessee regarding the animal during this lease. The Lessee is responsible for any veterinary bills or medical expenses which result from the Lessee's improper care or neglect of the animal, or the animal's injury or illness while in the Lessee's care. "
The part I'm concerned about is the reimbursement. It sounds fair, and I would never intentionally do anything to harm Sabor OF COURSE, but I never initially agreed to that. What do you think?
Any other feedback? Things to add? Thanks!
He's really not that fancy, he's a regular old OTTB who happens to have pretty thorough dressage training, some decent ribbons with my trainer, and by chance good racing lines. But really he's just a good ol' horse living in a muddy paddock at a family boarding stable teaching me to ride :)
thanks!
Donna R
For a horse that is that expensive I didn't think it was too bad of a lease. She must really like you and just need the animal exercised and used or I don't think you would be getting such a good deal. I'm with you though that $ 12,000 is daunting. I wouldn't be able lt pay her even if she sued me for that kind of money. But what are the chances of something like that happening? Good Luck. Sound like a fancy horse.
gallop
I have some thoughts.
How will the presence or absence of preexisting conditions be established up front? Diagnostics to cover all possibilities can run into huge expense. I'd want specific language on what kinds of conditions require veterinary treatment at your expense.
Since colic is a number one killer of horses, how would it be determined who is responsible for a death resulting from a bowel twist? This is not necessarily either a preexisting condition or one which is brought about by human negligence. I'd want specific language on conditions such as that, and with the horse owner responsible for all costs incurred. Maybe include agreed upon protocol for handling any colic, since every colic can be a medical emergency. Often it is necessary to perform necropsy to determine actual cause of death, which can be very expensive. How will that be handled?
I would not offer to reimburse market value on a horse in the event of loss of use or death without legal advice. I would discuss that with an attorney specializing in contract and property law, and also with an equine insurance carrier to see what they advise. I'd also check with an attorney on the disclaimer of liability on the part of the owner for injury to other parties while her horse is in your possession. I don't think that is probably legally enforceable. I doubt you can waive the owner's liability for injury to third parties or their property, and she will need to carry her own liability coverage for that. I would think that you would instead want to assure that she does carry injury liability insurance and consider taking out your own policy as well, since health insurance companies are likely to sue both of you in a major injury claim.
You can often get much of this information over the phone at no charge just by calling around to various attorneys in your area. You need to speak with specialists in contract and property laws (horses are property in the eyes of the law), and specialists in injury liability laws in your location.
Pamela O 2
I think you pretty much have everything covered in that lease - its very clear and states whats what so I wouldnt change anything.
xx
Snezzy
Lacks clauses naming the jurisdiction under which it is to be interpreted and specifying that invalidity of one part does not invalidate the other parts.
Mentions nothing about horseshoes or vaccinations.
Orignal From: Feedback on this lease agreement?
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