Full Coverage Equine Lease Agreements

An equine lease is a situation in which a horse owner (lessor) enters into an agreement with another party (lessee) regarding the use of a horse. A full coverage lease agreement formalizes this relationship and clearly defines the responsibilities of each party, as well and the specific terms and conditions of the lease.

  1. Function

    • The function of a full coverage equine lease agreement is to clearly define the roles and responsibilities of the parties involved. It protects both parties by addressing expectations and possible concerns up front. Liability is a major concern when it comes to an equine lease. To avoid any disagreements or confusion, a formal agreement will clarify liability concerns before they surface.

    Features

    • A full coverage lease agreement can include any or all of the following points: the name of the parties involved, the length of the lease, owner rights, training limitations/requirements, financial responsibilities and emergency procedures in the event of a health problem. What sets this type of agreement apart from a standard lease agreement is the requirement of an insurance policy covering the horse for the term of the lease.

    Benefits

    • A formalized full coverage agreement protects all parties involved by addressing common concerns that arise during leases. Both the lessor and lessee review and sign the agreement, starting a dialogue that may help avoid confrontation down the road. The lessor can be confident that her horse is in good hands and the lessee is aware of the expectations and responsibilities that come with accepting this arrangement.

    Considerations

    • A full coverage equine lease agreement allows the owner to specify the particulars of the care his horse receives. Examples include a specific nutrition plan, a veterinary maintenance program (such as joint injections), custom horse shoes, training expectations and limitations or chiropractic care. Also, consider if you would like the lessee to use a particular vet, farrier or trainer.

    Warnings

    • Look for an equine law professional in your area to draw up a lease agreement or provide a lease agreement template. Find out about the legal requirements and stipulations that are unique to your state. A notary can witness and validate the signatures. A horse lease can be difficult because a horse, unlike real estate for example, is a living being. Injury, decreased value and illness are real concerns that should be addressed in the lease in order to protect all parties involved.