Equine Lease Agreements
Basically there are two types of lease agreements, one for breeding and one for use of a horse for sport and recreation. Generally for both types of leases, the contract should spell out the owner of the horse and the lessee, identify the horse and the duration of the lease. Probably one of the most important items to identify in the lease is to establish a value of the horse for purposes of the lease. The terms of the lease should identify the use to which the horse is intended and how the monetary exchange is to be handled. Methods of termination or extension of the lease clearly defined reduce the chances of misunderstanding if a need to change the term arises. The terms of the lease should address maintenance, veterinary services, insurance and heirs. Above all, a key point is the lease must be beneficial and clear to both parties.