In Barn Free Lease Agreement - Need help

[maddiewinston]

Hello all -

I am need of an in-barn free lease agreement. If anyone has an agreement that they wouldn’t mind sharing, I would appreciate if you could PM them to me. Also, please share any experiences/advice or items I should make sure to specify in the agreement – want to do this right.

Thanks in advance.

[findeight]

Only advice is not to be a stranger and write a “lease may be terminated by either side with 30 day notice” clause in the contract.

Honestly, it’s best to do a 6 month term instead of a full year or an open ended, undefined term. That way you sit down every 6 months and renegotiate or renew the existing terms. Allows you to keep track and some control as well as put a stop to anything not specifically addressed in the contract that comes up. Also lets the other side out if its not working out as they thought.

Many get into these free leases and assume both side will perform as outlined in the contract. Usually doesn’t happen that way, sometimes in a good way. More often, not so much.

[Bogie]

Lease agreements can specify almost anything. I’ve found it’s best to anticipate any possible problem and discuss how it will be handled before you are dealing with the emotions.

Best agreements I’ve seen are specific about:

• who can ride the horse (I’ve always specified the lessee and the trainer but no friends)
• guidelines for riding (no jumping without a trainer, or limiting height or frequency, how often can the horse be ridden)
• tack requirements/restrictions (must use fitted saddle, may not use draw reins, etc.)
• Lesson requirements (must take x number of lessons per month, must ride with trainer, etc.)
• Where the horse can be taken/who can trailer it
• What vet/farrier to use
• Who pays for what in case of an emergency medical issue and when the owner needs to be notified. If the horse colics, what is the procedure? if the horse is injured and requires stitches, transport to a veterinary hospital, etc. Some free leases specify only that the lessee is responsible for treating problems that occur under their watch and that the owner handles other issues that come up.
• Who pays for broken items? if the Lessee is using owner’s tack and it breaks, for example.

Never assume that both parties have exactly the same expectations going into the arrangement.

[myalter1]

i have one… do you still need one?

[wsmoak]

Depending on how much you have to lose, the few hundred dollars an attorney will charge to help you draft the agreement may be well worth it.

If the horse is involved in any kind of accident (random child feeds horse a finger while at a horse show? lessee falls off and breaks a leg?) then as the owner you’ll likely be dragged into the resulting mess.

Getting the liability wording just right for your state is not something I’d want to attempt on my own.

YMMV. If you’re a college student with no assets just loaning out your horse, you might not have as much to worry about as a homeowner or someone with retirement savings to protect.