What does it mean to syndicate a racehorse?

In the horse world, a syndicate is generally a group of people who pool their funds to invest in a horse together and share the horse's annual costs. Everyone who buys in is a shareholder and owns a portion of the horse for a set period of time, or until the horse is resyndicated or sold.

US Legal Forms
Horse or Stallion Syndication Agreement

Racehorse Syndicate Agreement Formula In Collin

Category:

Animals - Horses

State:

Multi-State

County:

Collin

Control #:

US-00039DR

Format:

Instant download

Description

The Racehorse Syndicate Agreement formula in Collin is designed to establish ownership and management of a thoroughbred stallion through fractional interests. This agreement allows initial owners to divide ownership into equal undivided fractional interests, providing a clear framework for the rights, obligations, and management of the horse. Key features include provisions for transferring interests, governing maintenance for breeding purposes, and appointing a Syndicate Manager responsible for oversight. The form includes specific instructions for filling out details such as owner names, addresses, the stallion's name, and fractional interests. Target users such as attorneys, partners, owners, associates, paralegals, and legal assistants will find it useful in facilitating partnerships and transactions in the racehorse industry, illustrating legal rights, and managing financial responsibilities. The structured format aids in safeguarding the interests of all parties while promoting sound practices in syndicate management. Overall, this agreement creatively blends the legal intricacies of horse ownership with the practicalities of syndicate operations.