C1 Horse Share – Buy Shared Ownership Contract
This agreement is suitable for use to set up a horse share scheme in which the horse or pony will be shared between two or more people. The agreement can be used in either of the following situations:
- Two or more people jointly own the horse and will split the costs, tasks and riding time between them.
- One of the sharers owns the horse and the other sharer(s) will be permitted to share in the riding of the horse in return for doing some of the necessary tasks and perhaps making a payment to the owner to cover a proportion of the costs. The exact provisions on cost division can be adjusted to suit the needs of the group.
This agreement is very comprehensive and, amongst other issues, deals with the following:
- The obligations of the sharers to care for the horse
- Costs splitting procedures
- Reservation procedures for deciding who can ride the horse, and when
- The allocation of liability between the sharers in the event of damage or accidents involving the horse
- Prohibitions and requirements regarding the use of the horse
- Procedures for admitting new sharers, and for terminating the agreement, including how to sell a share in the horse
We recognise that the arrangements for issues such as splitting costs and tasks and deciding on a riding rota will need to be different for each horse share club depending on the individual circumstances. To allow for such flexibility many parts of the agreement can easily be personalised to meet the needs of a particular sharing group. For example, the agreement provides for a standard list of prohibited uses for which the horse may not be used. It is possible to alter the agreement if required to add to this list of prohibitions or to subtract from it if necessary.
The agreement comes with extensive Drafting and Guidance Notes which fully explain the operation of the agreement and contain example additional or replacement clauses which may be used to personalise the agreement. The Drafting and Guidance Notes also contain practical tips and useful documents for use within the horse share scheme.
All of the contracts available from this site have been drafted by our own team of lawyers.
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