Instructions
Lease Agreements
Document that the horse to be leased is in good health. Information about the horse, including name of the horse, sex, age, breed, registration number, and color and markings need to be included in the lease contract.
Name each party to participate in the lease, as well as current residence. Most contracts list the names of both parties, then refer to each as lessor and lessee throughout the rest of the document. Include the date that both parties enter into the lease contract.
List the terms, price and duration of the lease. Write the amount of the monthly payment and when it is due. Include any costs the lessee is responsible for paying while caring for the horse. These expenses may encompass hoof care, training, routine or emergency veterinary care, as well as feed and bedding.
Document whom is authorized to ride the leased horse. In addition, state where the horse is allowed to reside and travel. State that permanent residence cannot be moved without permission from lessor.
Insure the horse to be leased before leaving the premises. Insurance policies can vary in coverage from loss of use, death and/or theft. Both parties need to decide who is paying for the insurance. If the lessee is paying for the insurance, than a copy needs to be shown to the lessor, and this should be stated in the contract.
Include limitation of liability. The lease document should state that the lessor is not responsible for any damage or injury occurring during the lease. This should state that the lessee releases the lessor of all liability in connection with the lessee's activities with or on the horse.
Clarify the repercussions of breach of contract. List the how long the lessee has to make payments before they are considered in default. Declare that once this grace period has passed, the lessor has the option to forfeit the contract or collect a late fee. In addition, add that the contract can be voided with 30 days written notice from either party for any reason. If the lessee gives notice, they are still responsible for their next payment within the 30 days. The contract should also state that the lessor can void the contract immediately if the lessor or stable manager feel the horse's health is at risk by acts or omissions of the lessee.
Have both parties sign the lease contract. Print and sign the contract together if possible. The date the contract was signed should be stated as well. It is preferable to have a notary sign the contract.
How to Write a Horse Lease Agreement
Leasing a horse requires careful consideration from both the owner (lessor) and the person leasing (lessee). Several topics need to be discussed and agreed upon before a contract can be written. Subjects being discussed should focus on protecting both the lessor and the lessee for the duration of the lease.