Texas Performance Horse Lease Agreement
About this form
The Performance Horse Lease Agreement is a legal document that outlines the terms under which a horse is leased for riding or showing in competitions. This agreement is essential for ensuring that both the lessor and lessee understand their rights and responsibilities, including lease payments, care, maintenance, and insurance. It is different from other equine agreements as it specifically focuses on performance-related uses rather than breeding or other activities.
Form components explained
- Lease term, including start and termination dates.
- Lease payment structure, indicating initial and ongoing payments.
- Provisions for permitted and prohibited uses of the horse.
- Right of first refusal for the lessee if the horse is put up for sale.
- Conditions for termination of the lease by the lessor.
- Applicable law governing the lease agreement.
When this form is needed
This form is useful when an individual or organization wants to lease a horse for performance activities such as riding and competitions. It is appropriate for scenarios where the lessee does not own a horse but wants to participate in events that require a performance horse.
Intended users of this form
- Individuals looking to lease a horse for recreational riding or competition.
- Horse owners who wish to lease their horse to another person.
- Equestrian facilities or organizations facilitating horse leases.
Steps to complete this form
- Identify the parties involved: lessor (horse owner) and lessee (the one leasing the horse).
- Specify the horse's details, including name, breed, and registration number.
- Determine and enter the lease term start and termination dates.
- Outline the payment schedule, including initial and final payments.
- Include any permitted uses and prohibited activities related to the horse.
- Sign and date the agreement to make it legally binding.
Does this document require notarization?
Notarization is not commonly needed for this form. However, certain documents or local rules may make it necessary. Our notarization service, powered by Notarize, allows you to finalize it securely online anytime, day or night.
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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 the lease term clearly.
- Omitting payment details, leading to confusion about payment schedules.
- Not including specific permitted and prohibited uses of the horse.
- Neglecting to discuss care and maintenance responsibilities.
- Overlooking the importance of the right of first refusal clause.
Advantages of online completion
- Convenient access to the document at any time from anywhere.
- Editable templates allow for customization to meet specific needs.
- Reliable legal compliance, drafted by licensed attorneys.
- Easy download means no hassle with physical paperwork.
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FAQ
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.
Contents of a lease agreement: Names of the lessor and lessee or their agents. Description of the property. Amount of rent and due dates, grace period, late charges. Mode of rent payment.
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.The owner has good care for the horse they love.
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.
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.
The Half-Lease Contract.In this type of agreement, the owner of the horse or lessor splits the horse's care expenses and riding time with a lessee. It can be a beneficial way to save money on board, feed, vet bills, etc., and it can be great for your horse if your own saddle time is limited.
Generally, the cost of a full lease for a year will range from 25 to 30 percent of the horse's value?in other words, about $2,500 for a horse worth $10,000. Although that still may seem a sizeable investment for a budget-minded rider, it's a practical way to have access to a worthwhile horse.
