C1 Horse Share – Buy Shared Ownership Contract £ 19.50. 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. Owners Badges. Provisions for selling the horse, including when it will be offered for sale, who will be responsible for marketing and selling the horse, and how proceeds will be distributed. Provisions for restrictions on transfer of ownership interests, including what happens if a party wants to leave the co-ownership. All Share Owners can enjoy a detailed updates and an exciting in the ownership experience. Ownership costs result from owning machinery, equipment, and the horse, and include cash expenses such as insurance, taxes, and interest on borrowed capital. The demand for horse sharing is ever increasing due to the expensive costs of ownership and the large time demands of caring for a horse. 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. 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. A sharer will still be expected to devote a certain level of both of these commitments, but in far smaller proportions and without the hefty responsibility. When a Owners Group horse runs, owners will have the opportunity to apply for a complimentary owner’s badge. The HORSE is to be kept at _____(hereafter referred to as the YARD) and the SHARER must abide by the rules of the YARD at all times. The agreement can be used in either of the following situations: Owning more than one horse will usually lower the cost per horse, because of the shared facility and equipment costs. The SHARER will promptly notify the OWNER or YARD staff if the SHARER notices that the HORSE has incurred any illness or injury. In addition to the agreement, it also may be advisable that both co-owners together form a limited liability company (LLC) and that this LLC take ownership of the horse. All horses listed on MyRacehorse undergo an exhaustive diligence process, that includes a veterinarian check, conformation assessment, and value assessment that includes pedigree analysis, race history, remaining conditions, and several other factors that determine the fair market value of a horse. Sometimes people enter into a joint ownership agreement as a way to afford a property they could not otherwise buy, but it's important to understand that this has an impact on others and can complicate who gets the right to the property when one of the owners dies. The advantage of this being liability protection for both of you should a negative situation, such as the horse … Joint ownership comes in three forms: with rights of survivorship, as community property, and as tenants in common. Horse racing partnerships offer the thrills and gratification of the Sport of Kings at a fraction of the investment required to purchase and maintain an entire horse on your own. Horse Ownership How are horses selected? Horse Racing Partnerships A great way to enjoy the fun of owning a horse while sharing the cost is through a racing partnership, in which up to 20 people can be members. It has become an increasingly popular way for groups of friends to get involved. https://www.chronofhorse.com/article/plan-ahead-jumping-co-ownership-horse Sharing ownership of a sport horse has advantages for both the rider a backer. With a limited number of share holders, our groups are friendly, informal and welcoming. This document records the arrangement and the obligations of each owner to the other and to the care of the horse. Property, and as tenants in common of friends to get involved if the SHARER notices the. With rights of survivorship, as community property, and as tenants common! 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