PDA

View Full Version : bill of sale?



rockfordbuckeye
Nov. 17, 2010, 07:27 PM
Quick question: If a contract is signed by both seller and purchaser and cashiers check is delivered from purchaser to seller for a horse and the horse has officially moved barns and been at new barn beyond duration of trial period....BUT the seller has not cashed the check or provided a bill of sale - who owns the horse?

Coppers mom
Nov. 17, 2010, 07:37 PM
Is the contract that is signed by both buyer and seller the bill of sale, and there just isn't a copy that's been delivered to the buyer?

rockfordbuckeye
Nov. 17, 2010, 07:47 PM
buyer and seller both have contract. I guess my question is - does a contract = bill of sale or do you need both?

gottagrey
Nov. 18, 2010, 12:42 AM
What's the saying - possession is 9/10ths of the law...if the buyer gave the seller a cashier's check then it doesn't matter when the seller cashes it - it's a bank check, not personal so the purchaser of horse & check has little control now over what happens w/ the cashier's check. Except seller would be pretty stupid not to cash check as sometimes they are only valid for a certain length of time. However, if the buyer kept the receipt/purchasers copy of the cashier's check, that could serve as their "proof of purchase" and hopefully in the memo it said something like "purchase of TickToc".

RockinHorse
Nov. 18, 2010, 06:51 AM
I would hope the answer to "who owns the horse" would be found in the terms of the contract.

coloredcowhorse
Nov. 18, 2010, 12:35 PM
Money has changed hands (even though in the form of a cashiers check...the funds are available to the seller as soon as they choose to cash it) and the purchased item (the horse) has changed hands and has been kept beyond any trial period. In my world that is a sale. The buyer can't be held responsible for the seller not cashing a check and getting his money when it is available. I would say that the buyer now owns this horse unless there is something in the contract that would state otherwise.

Offset
Nov. 18, 2010, 01:10 PM
Agree with the above that buyer owns the horse. I would take the position they have equitable title, though, and not legal title. (ie. similar to buying a car but not being given the title for it). I would absolutely INSIST on a Bill of Sale and I would be curious whether you run into issues getting insurance, reregistering with the USEF, etc.

rockfordbuckeye
Nov. 18, 2010, 01:27 PM
Thanks for advice. I am having trouble getting a um...distracted seller to "finish the deal" and finalize registration papers transfer and bill of sale. I wasn't sure how important the bill of sale is with contract signed, etc. I will continue to pursue!

coloredcowhorse
Nov. 18, 2010, 01:32 PM
Thanks for advice. I am having trouble getting a um...distracted seller to "finish the deal" and finalize registration papers transfer and bill of sale. I wasn't sure how important the bill of sale is with contract signed, etc. I will continue to pursue!


May also depend upon the laws in the state in which this occured. Here in NV the ONLY legal proof of ownership is not registration papers, not a contract, not a bill of sale but IS a brand inspection card issued by a state licensed brand inspector. He may use any of the above (and I haven't had anything but signed transfers on the registrations on many of my horses!) to determine if a person owns a specific horse but his little card is the ultimate "proof". (Gets interesting when you have foals you have bred so there isn't any bill of sale or contract or registration showing a transfer!)

eclipse
Nov. 18, 2010, 01:35 PM
You have a contract signed by both parties, cheque has changed hands as has the horse....deal is done my friend! Now next question: why didn't you make the bill of sale and contract one and the same? You could of had all the terms and conditions and any other items shown on the one document along with agreed upon price and had it all signed by both parties at time of transfer of horse and have been done with it! I'd of also requested that all papers and passports be handed over at this time too. This is how I've bought and sold horses, and I've never had any issues.

REH
Nov. 18, 2010, 04:58 PM
....it depends on what the executed contract says.

M. O'Connor
Nov. 18, 2010, 06:20 PM
I would hope the answer to "who owns the horse" would be found in the terms of the contract.

Agreed. Unless the contract was badly written, and didn't specify the actual terms of the sale.

A contract would list the terms of the sale; a bill of sale would be a document you can furnish to third parties (who may not need to know the terms of the sale in detail) to prove ownership.