View Full Version : Lease to own contracts
Mar. 18, 2012, 08:15 PM
Could someone send me a good lease to own contract? I am having a tough time finding one. Client will be making payments over a year. Thanks in advance!
Mar. 18, 2012, 10:23 PM
No contract but keep the horse on your property - if you are considering anything else, contact an equine lawyer.
Mar. 19, 2012, 11:47 AM
Sounds like you are really setting up an installment loan and not a lease at all? You know, banks do that too and are better at it. Can't the buyer get a standard personal loan or a cash advance off a credit card (rates are pretty good for most these days)?
If your buyer cannot get the funds anyplace else? Don't. Do. It. Or you may learn why the buyer cannot get a loan anyplace else. All it takes is one vet bill to sink the arrangement.
Really. Most of these go bad in the worst way and you have no horse and no money. And you put your horse at risk if you let it off your property.
Mar. 19, 2012, 11:51 AM
I agree with findeight that these usually go bad in the worst way. I once considered buying a horse this way. It would have been a horrible idea for me financially (which is why I didn't do it), and it also would have ended badly for other reasons because the horse stepped on a nail and had to be permanently retired during what would have been the "lease to own" period. It just would have been horrible for all involved.
Not that you couldn't buy a horse and have the same thing happen a day later...but it just makes things that much more complicated if the horse is subject to a lease to own agreement at the time of injury.
Mar. 19, 2012, 12:53 PM
Listen to Findeight. Don't do it, you will regret it.