US Legal Forms
Horse or Stallion Syndication Agreement

Horse Racing Syndicate Contract For Deed In Wake

Category:

Animals - Horses

State:

Multi-State

County:

Wake

Control #:

US-00039DR

Format:

Instant download

Description

The Horse Racing Syndicate Contract for Deed in Wake outlines the formation and management of a horse racing syndicate, detailing ownership rights among members who hold fractional interests in a thoroughbred stallion. Key features include the division of ownership into equal undivided fractional interests, the responsibilities of the appointed syndicate manager, and specific provisions for the breeding and resale of interests. The agreement specifies members' rights, including access to breeding nominations and financial obligations related to horse maintenance. It emphasizes the transferability of interests and the situations under which they may be transferred, as well as the tax implications of syndicate ownership, which seeks to avoid partnership status. Filling and editing instructions are straightforward, advising parties to ensure accuracy in member information and interests. This document serves as a practical legal tool for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in horse racing syndications, providing clarity around ownership, management, and legal obligations.

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Form popularity

FAQ

Horse Racing Syndicates: How to Share Costs and Own a Racehorse Keep the partnership simple and get everything in writing. Find a horse you like and a great veterinarian you trust. Decide how many shares will be offered in a horse. Choose your trainer wisely. Map out a plan and consult with your partners and trainer.

Syndication refers to a co-ownership of a horse, also known as a “co-ownership agreement” when made between two or more people. Each owner owns a fractional interest in the animal and the original owner is the syndicator and the manager.

For a syndicator to be approved by the BHA they must themselves be registered as a sole or company owner. SYNDICATE MEMBERS: Any person who has shares in the ownership, or lease, of racehorses through a syndicate should be listed a syndicate member.

Syndicates are a form of shared ownership where the Syndicate members own, or lease, an interest in racehorses. A Syndicate is managed and administered by the Syndicator(s) and only the syndicator(s) must register as a Sole/Company owner. It isn't necessary for members of the Syndicate to register as owners.

Horse Racing Syndicates Made Easy Hambleton Racing is established as one of the best UK horse racing syndicates. For over 15 years our horse syndications have been providing genuine, quality ownership. Enjoyment, satisfaction, and winners are what we expect to provide within our racehorse syndicates.