Horse sharing agreements

This is a shared ownership agreement for a sport horse, where one of the owners is a competition rider, and the other a financial backer.

Sharing ownership of a sport horse has advantages for both the rider a backer. It can give a rider a financial or motivational incentive to perform, and it can reduce the upkeep costs and the responsibility of the backer.

Just as in any business arrangement, an informal agreement can lead to numerous problems later. The aim of this equine sharing agreement is to set out not only a record of ownership, but of agreed responsibility: for management, care and competitions. With it, backers will find that they aren't just a source of finance.

Matters covered include:

• Safekeeping of any passport and other records
• Care standards, and location and terms of stabling
• Agreement in which events to compete
• Expenses
• Third party services: including vet, farrier and physio
• Termination of the agreement

Horse sharing is a fantastic way of reducing the costs of ownership. However, many informal arrangements turn sour because of disagreements about cost or responsibilities for care, access and use.

This agreement sets out ownership and responsibilities. It covers a lot of points, and is suitable for both high value and low value transactions.

We haven't used any legal jargon, so the document doesn't seem overly formal for an agreement between friends. It will however, protect your investment in the equine, and help prevent disagreements.

This agreement could be used when:

• buying a new horse with a friend and sharing costs and riding time
• selling a share in an equine you already own in order to reduce your financial or time commitment to looking after it
• buying with someone else to allow a third party to ride (such as buying with an ex-husband, where the rider will be your daughter)