About these documents
These are documents to govern the fractional (joint) ownership of a horse. They provide a framework which can be extended, reduced or changed to suit almost any circumstances.
Who will use these documents?
- Competition owners and riders: BE, BD, BSJA or unaffiliated;
- individuals who want to ride but perhaps lack equestrian facilities;
Note: they are not suitable for sharing a race horse in training.
Which to use?
EQ06 is intended for a situation where two people share ownership for shared riding pleasure. The sharing can be equal or one party can own a larger share than the other. The care and maintenance too can be shared in whatever proportions the sharers wish. However, responsibilities are itemized, so that specific provision can be made.
EQ07 is intended for a situation where one person is putting in money primarily for the pleasure of seeing her horse compete, while the other may be a professional or amateur rider, who retains some share too.
Both documents include provisions for:
· details of the horse;
· the essence of the agreement;
· legal ownership (either equal or in whatever proportions you decide);
· horse’s passport – who retains and ensures it is up to date;
· where the horse is to be kept and maintained;
· expenses – who pays for what;
· termination – under what circumstances;
· and many other provisions to protect your interest.
How they differ:
EQ06 includes provisions for ‘horse management’ – the practical issues such as who is to exercise the horse when and how, whether the parties can take riding lessons, transport of the horse and the horse trailer.
EQ07 includes provisions for ‘project management’ – including the duty of one party to compete in competitions, training, events, parties’ expectations and the progress of the horse.
