• Welcome to the Chronicle Forums.
    Please complete your profile. The forums and the rest of www.chronofhorse.com has single sign-in, so your log in information for one will automatically work for the other. Disclaimer: The opinions expressed here are the views of the individual and do not necessarily reflect the views and opinions of The Chronicle of the Horse.

Announcement

Collapse

Forum rules and no-advertising policy

As a participant on this forum, it is your responsibility to know and follow our rules. Please read this message in its entirety.

Board Rules

1. You’re responsible for what you say.
As outlined in Section 230 of the Communications Decency Act, The Chronicle of the Horse and its affiliates, as well Jelsoft Enterprises Ltd., the developers of vBulletin, are not legally responsible for statements made in the forums.

This is a public forum viewed by a wide spectrum of people, so please be mindful of what you say and who might be reading it—details of personal disputes are likely better handled privately. While posters are legally responsible for their statements, the moderators may in their discretion remove or edit posts that violate these rules. Users have the ability to modify or delete their own messages after posting, but administrators generally will not delete posts, threads or accounts upon request.

Outright inflammatory, vulgar, harassing, malicious or otherwise inappropriate statements and criminal charges unsubstantiated by a reputable news source or legal documentation will not be tolerated and will be dealt with at the discretion of the moderators.

2. Conversations in horse-related forums should be horse-related.
The forums are a wonderful source of information and support for members of the horse community. While it’s understandably tempting to share information or search for input on other topics upon which members might have a similar level of knowledge, members must maintain the focus on horses.

3. Keep conversations productive, on topic and civil.
Discussion and disagreement are inevitable and encouraged; personal insults, diatribes and sniping comments are unproductive and unacceptable. Whether a subject is light-hearted or serious, keep posts focused on the current topic and of general interest to other participants of that thread. Utilize the private message feature or personal email where appropriate to address side topics or personal issues not related to the topic at large.

4. No advertising in the discussion forums.
Posts in the discussion forums directly or indirectly advertising horses, jobs, items or services for sale or wanted will be removed at the discretion of the moderators. Use of the private messaging feature or email addresses obtained through users’ profiles for unsolicited advertising is not permitted.

Company representatives may participate in discussions and answer questions about their products or services, or suggest their products on recent threads if they fulfill the criteria of a query. False "testimonials" provided by company affiliates posing as general consumers are not appropriate, and self-promotion of sales, ad campaigns, etc. through the discussion forums is not allowed.

Paid advertising is available on our classifieds site and through the purchase of banner ads. The tightly monitored Giveaways forum permits free listings of genuinely free horses and items available or wanted (on a limited basis). Items offered for trade are not allowed.

Advertising Policy Specifics
When in doubt of whether something you want to post constitutes advertising, please contact a moderator privately in advance for further clarification. Refer to the following points for general guidelines:

Horses – Only general discussion about the buying, leasing, selling and pricing of horses is permitted. If the post contains, or links to, the type of specific information typically found in a sales or wanted ad, and it’s related to a horse for sale, regardless of who’s selling it, it doesn’t belong in the discussion forums.

Stallions – Board members may ask for suggestions on breeding stallion recommendations. Stallion owners may reply to such queries by suggesting their own stallions, only if their horse fits the specific criteria of the original poster. Excessive promotion of a stallion by its owner or related parties is not permitted and will be addressed at the discretion of the moderators.

Services – Members may use the forums to ask for general recommendations of trainers, barns, shippers, farriers, etc., and other members may answer those requests by suggesting themselves or their company, if their services fulfill the specific criteria of the original post. Members may not solicit other members for business if it is not in response to a direct, genuine query.

Products – While members may ask for general opinions and suggestions on equipment, trailers, trucks, etc., they may not list the specific attributes for which they are in the market, as such posts serve as wanted ads.

Event Announcements – Members may post one notification of an upcoming event that may be of interest to fellow members, if the original poster does not benefit financially from the event. Such threads may not be “bumped” excessively. Premium members may post their own notices in the Event Announcements forum.

Charities/Rescues – Announcements for charitable or fundraising events can only be made for 501(c)(3) tax-exempt organizations. Special exceptions may be made, at the moderators’ discretion and direction, for board-related events or fundraising activities in extraordinary circumstances.

Occasional posts regarding horses available for adoption through IRS-registered horse rescue or placement programs are permitted in the appropriate forums, but these threads may be limited at the discretion of the moderators. Individuals may not advertise or make announcements for horses in need of rescue, placement or adoption unless the horse is available through a recognized rescue or placement agency or government-run entity or the thread fits the criteria for and is located in the Giveaways forum.

5. Do not post copyrighted photographs unless you have purchased that photo and have permission to do so.

6. Respect other members.
As members are often passionate about their beliefs and intentions can easily be misinterpreted in this type of environment, try to explore or resolve the inevitable disagreements that arise in the course of threads calmly and rationally.

If you see a post that you feel violates the rules of the board, please click the “alert” button (exclamation point inside of a triangle) in the bottom left corner of the post, which will alert ONLY the moderators to the post in question. They will then take whatever action, or no action, as deemed appropriate for the situation at their discretion. Do not air grievances regarding other posters or the moderators in the discussion forums.

Please be advised that adding another user to your “Ignore” list via your User Control Panel can be a useful tactic, which blocks posts and private messages by members whose commentary you’d rather avoid reading.

7. We have the right to reproduce statements made in the forums.
The Chronicle of the Horse may copy, quote, link to or otherwise reproduce posts, or portions of posts, in print or online for advertising or editorial purposes, if attributed to their original authors, and by posting in this forum, you hereby grant to The Chronicle of the Horse a perpetual, non-exclusive license under copyright and other rights, to do so.

8. We reserve the right to enforce and amend the rules.
The moderators may delete, edit, move or close any post or thread at any time, or refrain from doing any of the foregoing, in their discretion, and may suspend or revoke a user’s membership privileges at any time to maintain adherence to the rules and the general spirit of the forum. These rules may be amended at any time to address the current needs of the board.

Please see our full Terms of Service and Privacy Policy for more information.

Thanks for being a part of the COTH forums!

(Revised 1/26/16)
See more
See less

Lease to own terms? Help!

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Lease to own terms? Help!

    I have a horse up for sale, and someone asked about a lease to own situation (until their horse sells). I am most interested in finding my horse a good home first - so this is something I would feel comfortable with if the right person came along.

    How does this typically work? I have only bought and sold outright.

    The mare is only $6,000. I know a year lease is 1/3 the purchase price. So would it be fair to say, $2,000 up front, buyer carries insurance, and then the balance is due at the one year mark or when their horse sells, whichever comes first?

    Whatever terms I decide on, I will have a contract, so it will be in writing. I'm just not sure what is fair for both of us. Please share your experiences.

  • #2
    Originally posted by trainer a View Post
    I have a horse up for sale, and someone asked about a lease to own situation (until their horse sells). I am most interested in finding my horse a good home first - so this is something I would feel comfortable with if the right person came along.

    How does this typically work? I have only bought and sold outright.

    The mare is only $6,000. I know a year lease is 1/3 the purchase price. So would it be fair to say, $2,000 up front, buyer carries insurance, and then the balance is due at the one year mark or when their horse sells, whichever comes first?

    Whatever terms I decide on, I will have a contract, so it will be in writing. I'm just not sure what is fair for both of us. Please share your experiences.
    I was in your shoes about 6 months ago. A good home was FAR more important. Actually, the girl had that same reason--she needed to sell her horse first....wonder if it's the same girl

    You have to also remember business is business. What I mean by that is--a contract is a contract, yes. But for your $6000 horse will you really spend $10000 in attorney fees to take the other party to court if something goes wrong? What you will recover won't even pay half of those fees. If you win.

    I decided I was willing to to a lease to own situation. BUT....the horse could ABSOLUTELY not leave my farm untill he was PAID IN FULL. No exceptions. Technically, you still have a monetary investment in this horse until the day it's paid off. The new "owner" would be responsible for all his shoeing, vet bills, board, insurance, etc. and like you said, should definitly carry the horse on a policy with YOU listed as the beneficiary.

    I would do something like this: Your horse is $6,000. Require a 20% down payment ($1,200) and do a year agreement. (comes out to a nice and even $400/month). Default and the horse is yours--no exceptions on that either. As long as you are adiment about your horse not leaving your property until its paid in full, you really have nothing to lose. You can monitor the horse and her with the horse until she officially owns him.

    Good luck

    PS I have an contract I used if you would like me to PM you with it!!

    Comment

    • Original Poster

      #3
      Thanks for your feedback Sar.

      That's what I was kind of debating on - where the horse will stay. I live in a subdivision, unfortunately I have to board. Do you think that would make things mucky in the contract? I would definitely prefer him to stay where he is until he's paid for, then I don't have to worry about taking him back in the middle of the night if the lease is defaulted...

      I would love to see your contract if you would be so kind to PM it to me.

      Comment


      • #4
        I am leasing a horse right now and the horse is also for sale. The contract is pretty standard: I pay a monthly fee to lease the horse for x number of months (3 in this case). If at the end of the lease I wish to buy the horse I may apply 100% of the lease payments to the purchase of the horse, but the possibility of doing so disappears after the last day of the lease, and we would need a new lease to renew the lease, and I don't think it's in anyone's best interest to do another lease, as the owner wants to sell. I may scrape together the purchase price, or I may say "thanks, it was a great 3 months!" Clear for all parties.

        And yes, insurance (med and mort) is imperative for all involved.

        Comment


        • #5
          Suggest doing it as a month to month lease at that 400 figure...payment each month due by the first. Horse stays where it is-they pay insurance, vet, farrier etc. That compensates you for having it off the market, has a quick out time if they default and requires them to get serious about selling.

          Alternatively, you could lease it for 1 year at 2k (or 3k for the option to buy clause)....but that could collapse and either dump it back on you when youy are not ready or lead to all sorts of complications month to month prevents because either side can terminate with 30 days notice.

          I just wonder why they don't buy the horse now??? If they cannot afford it until they sell theirs? How can they carry 2 at the boarding barn and routine expenses from vet and farrier for both?

          I'd prefer to limit my exposure to disaster and avoid complications by going month to month with that money applied to the purchase price oif they go through with the purchase-and 400 a month is a fair lease price for a decent horse if they don't.
          When opportunity knocks it's wearing overalls and looks like work.

          The horse world. Two people. Three opinions.

          Comment


          • #6
            It's certainly one of those it depends situations.

            I remember someone who did a lease to own and wasn't coming up with the monthly payments. There were a lot of tears when the owner showed up with a trailer and took the horse back.

            Certainly it's preferable if the horse is on your own property. If it's not, they would need to either keep it where it is, or you would need a contract that specifies consequences if payments are missed.

            Also the horse would need to be fully insured.

            Not an ideal situation but it could work if you felt confident that the person would give the horse an ideal home.
            Equine Ink - My soapbox for equestrian writings & reviews.
            EquestrianHow2 - Operating instructions for your horse.

            Comment

            • Original Poster

              #7
              F8, they said they didn't want to buy until their horse sold. I'm not sure if they board or if they have a place of their own, I haven't asked yet.

              In this case they live 3 hours from me. It wouldn't really be feasible for the horse to be kept at my boarding barn. I totally understand why it is smart to keep him in my care until he's paid for in full, but I'm not sure I want to lose an otherwise perfect home over that.

              Comment


              • #8
                Originally posted by trainer a View Post
                F8, they said they didn't want to buy until their horse sold. I'm not sure if they board or if they have a place of their own, I haven't asked yet.

                In this case they live 3 hours from me. It wouldn't really be feasible for the horse to be kept at my boarding barn. I totally understand why it is smart to keep him in my care until he's paid for in full, but I'm not sure I want to lose an otherwise perfect home over that.
                major med and mort would be a requirement if you horse left the property. and possibly a vet check before the lease started, so if she sent the horse back not in the condition the horse left in.... you could prove it. kinda a you break it you buy it clause.

                Comment


                • #9
                  A friend told me that her barn did this and I thought it was kinda cool. If your barn does like lesson sessions (x amount of weeks per session), you could probably do this.

                  This barn that my friend went to leased horses per session, and during that session it was 450 a month, and the kids had 3 days other than their lesson to ride, had to take care of any "care" that the horse needed during those days, and paid for farrier. Now, after the session was up, the rider could either renew the lease for the next session, or (with proper evidence and comments from trainer) they could lease another horse to better suit their needs, or they could stop leasing all together. There were many kids in the program that didnt lease, so it wasn't just a "you have to lease to ride" kinda thing, but the kids that did lease got farther in their riding and overall learned basic care for horses.
                  Evy and Me

                  Comment

                  Working...
                  X