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Owning half of a trailer, good idea or recipe for disaster ?

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  • Owning half of a trailer, good idea or recipe for disaster ?

    I own a big trailer 4H + LQ. But most of the time I'm just tailering one horse for short trips (less than an hour). In the spring we need to take mares and stallions to the repro clinic (15 mn away). There is also a show ground 4 mn from the barn and trail riding trails 10 mn from the barn.

    The barn owner downsized (she had a 3H with LQ) and got a nice 2H BP.

    I have borrowed her trailer here and there (mine had a problem and I had to take it to the shop to be fixed).

    Anyway, she told me that she would like to sell me half of the trailer, so I could use it whenever I want.

    We both have a truck and she trusts me to drive it around. As a matter fact, she lets me drive when we ride togethere.

    If by any chance we both need it at the same time, I can always take mine like I have done for the past 10 years.

    And if I use the 2H overnight, and she has an emergency, she can take my big gooseneck (she is used to pull a big trailer too).

    I tought it was a good idea and I don't mind sharing the expenses for maintenance, insurance and fix whatever damage there is.

    Input ?

  • #2
    First of all, it sounds like you'd be better off with a lease agreement than a "1/2 ownership". For instance, if she wants to sell the trailer do you have to give permission?

    if you're just going to use the trailer a certain number of days per month, or week...sit together and figure out the cost of operation and pay her for that use.

    Whatever you do, put it all in writing, in as much detail as possible. To me, half ownership sounds like the end of a friendship.

    Comment


    • #3
      I had 2 boarders do the same thing, split the cost of a trailer. They each had their own truck though, I think sharing a truck gets a little bit harder.

      That was about 10 years ago, 2 years ago one of the woman deceided she wanted her own as husband wanted to use also, the other bought out the 1/2.

      All was good and they are still friends! I think putting all in writing is a good idea so when the what if's come up nobody is unhappy, especially when there is a dent that no one fesses up to!!!

      Comment


      • #4
        My sister and I bought a trailer together. We both have our own trucks. After two and a half years of this arrangement, no problems, but then we are usually going somewhere together so no conflicts over use.

        My biggest concern over our arrangement, which might apply to your potential situation, is that my sister is married while I am not. We had drawn up papers that her husband signed waiving any right to the trailer, in case they should split up some time in the future (I like to plan for contingencies). So, if your friend or yourself are married, that might be something to consider...

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        • #5
          Maybe it's just me, but I've always found that going halfsies on anything with a friend or barnmate is a sure recipe for disaster. I don't care how good a relationship you have when it starts, I can guarantee that if something goes south with whatever object is the subject of joint ownership, there will be friction and nastiness before it's resolved.

          I like Hinderella's idea of a lease. Gives you X number of days per week/month for X number of dollars, and that's that. Would also spell out who's responsible for repairs, or what happens if one party wants the use of the trailer when the other does. Bears thinking about, anyway.
          In loving memory of Laura Jahnke.
          A life lived by example, done too soon.
          www.caringbridge.org/page/laurajahnke/

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          • #6
            Before you decide anything, I think there needs to be a conversation with the insurance agent. You want to make sure the trailer would be properly insured with each one of you towing with it.

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            • #7
              I second potential recipe for disaster, unless it's with family or your BFF. I would just offer to pay her a fee (mile rate, or time rate or something) whenever you want to use her trailer, especially since you don't necessarily "need" her trailer since you're keeping your 4-horse. That way no one is obligated to anything.

              Comment


              • #8
                Spam bot reported.

                OP - A former trainer and I attempted this in the form of a lease years ago. I owned the vehicle that pulled it and she didn't need the trailer at that time but didn't want to sell it. It worked very well and gave me a way to get to shows without having to rely on others. We had everything down in writing and I paid to insure it.
                Susan N.

                Don't get confused between my personality & my attitude. My personality is who I am, my attitude depends on who you are.

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