Montana Performance Horse Lease Agreement
What is this form?
The Performance Horse Lease Agreement is a legal document that outlines the terms under which a horse is leased from one party to another for performance and competitive purposes. This agreement includes specific provisions such as lease payments, permitted and prohibited uses, care and maintenance responsibilities, and risk management. Unlike general lease agreements, this document focuses explicitly on horses intended for riding or showing in competitions.
Key parts of this document
- Lease Term: Defines the duration of the lease, including start and end dates.
- Lease Payments: Details payment amounts and schedules for the lessee.
- Permitted Uses: Specifies the acceptable uses of the horse during the lease period, such as riding and showing.
- Right of First Refusal: Grants the lessee the first opportunity to purchase the horse if the owner decides to sell.
- Termination Conditions: Outlines the conditions under which the lease can be terminated and responsibilities for horse care post-termination.
Situations where this form applies
This form is ideal for situations where an individual wants to lease a horse primarily for riding or participating in competitive events. It is applicable for equestrian enthusiasts, trainers, or competitors who do not own a horse but wish to access one for specific performance-related activities. Additionally, horse owners can use this agreement to ensure that their horse is cared for and used in a manner they approve.
Who this form is for
- Horse owners (lessors) looking to lease their horse to others.
- Individuals (lessees) seeking to lease a horse for competition or recreational purposes.
- Equestrian trainers or competitors wishing to formalize a horse lease arrangement.
- Any party needing clarity on lease terms and responsibilities for horse care and usage.
How to prepare this document
- Identify the parties: Enter the names and addresses of both the lessor and lessee.
- Specify the property: Describe the horse being leased, including breed, name, and registration number.
- Enter important dates: Fill in the start and end dates of the lease term.
- Detail the financial terms: Include the lease payments, payment frequency, and any additional fees applicable.
- Initial any attachments: If there are specific prohibited uses attached as an exhibit, both parties should initial this exhibit.
Notarization guidance
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to specify all permitted and prohibited uses of the horse, which can lead to misunderstandings.
- Not clearly defining the lease term, leading to disputes about the lease's expiration.
- Neglecting to include payment details and schedules, resulting in confusion over financial responsibilities.
- Not initialing attachments or additional provisions, which may invalidate those clauses.
Why complete this form online
- Convenience: Access and download the form from anywhere at any time.
- Editability: Customize the agreement easily to fit your specific circumstances.
- Reliability: Use templates that are drafted by licensed attorneys to ensure legal compliance.
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FAQ
FULL LEASE: For $400 per month, you will have full, exclusive use of the horse. Full-leases require that you also pay to the costs of routine farrier and health care, which will vary according to the horse's needs.
Full Leasing a Horse When you full lease a horse you pay an agreed upon fee for exclusive access to the horse. This means you are the only one riding the horse.
A free lease means that the horse is leased to someone without any payment to the owner. When you have a free lease you retain ownership and control of your horse but your horse, in best case scenarios, is still cared for and loved. Everyone wins. The owner has good care for the horse they love.
When you full lease a horse you pay an agreed upon fee for exclusive access to the horse. This means you are the only one riding the horse.Oftentimes a full-lease also comes with the additional costs of board, veterinary expenses and shoeing expenses. It is pretty much exactly like owning the horse yourself.
Leasing a horse is nearly always less expensive than buying one.Leasing often allows riders of all levels to get a better quality horse than they might buy. Horse owners don't usually sell their best or most promising horses, but do lease them out when they don't have time for them or need some extra income.
Option #1: The person leasing the horse is responsible for all of the horse's expenses (board, feed, veterinary, farrier, etc). The person leasing the horse may ride or use the horse any time they'd like. Full leases rarely restrict riding days, times, or horse-related events, like attending a horse show.
Lease-to-Buy Equine Contract To purchase the horse, the buyer will pay the full purchase price during the lease term. During this time, the buyer will continue making lease payments per the parties' agreement, which will potentially go toward the total purchase price of the horse.
