Equine leases have significantly grown in popularity across Minnesota. When we talk about equine leases, we’re referring the to the umbrella that includes horses, pastures, breeding, facility, and other leases directly associated with horses and related industries. As with any other businesses leases, if not understood by both parties or drafted incorrectly, lease disputes can quickly escalate to time-consuming and costly lawsuits.
Understanding and Using Correct Terminology
Before agreeing to any final draft of a lease, it is important that you sit down with us so that we can explain to you how words and phrasing can impact the meaning of the agreement. Don’t settle for a general knowledge of these words or an internet cut and paste, but rather have a working knowledge of the terminology as it applies to the lease and your specific goals.
Clearly State the Lease Terms
If the owner fails to specify how long a lease is in effect, then there could be a conflict in how long the lessee assumes ownership of the property in question. One of the first questions our firm asks is how long the lease is good for. What is the duration and under what conditions? The more details and clarity you provide, the lesser the chances that a dispute could arise.
Who Owns the Horse?
A lease on a horse is similar to being a foster parent. Sometimes it’s difficult to let go once the agreement has run its course. Occasionally, emotions can run high and the lessee does not want to give up ownership rights. If ownership of the horse is not made clear in the lease, then the original owner may have difficulty gaining ownership of their horse again. Alternatively, what if the abilities of the horse are misrepresented? You want to know what your options are to terminate the lease.
What are the Conditions of Lessee Horse Care?
As we go over the further details of the lease, it is vital that you specify how you want the horse to be taken care of. This could include everything from proper riding techniques, to travel, diet, and housing environment. If you want your horse to be taken care of a certain way, then you need to specify in the lease. If you are drafting a boarding contract or other agreement, who is responsible for what expense?
rb Legal Can Handle Your Equine Lease
At rb Legal, we have both the experience and knowledge necessary to draft a document for your specific situation. We want to meet all of your needs while protecting you from any possible legal battles once the papers are signed. Call us today at 763-582-1414 and schedule a consultation. We are experienced horse owners and equine lawyers.