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What is a performance horse lease agreement?

• It standardizes the expectations for both parties concerning care, usage, and financial responsibilities.
• Leasing can reduce the financial burden associated with ownership, like veterinary and boarding costs.
• Both horse owners looking to offset costs and riders wanting to access high-quality horses without full ownership can benefit.

What are the essential components of the lease agreement?

• Clearly state the names and contact details of both the lessor and lessee.
• Include comprehensive details about the horse such as its name, breed, and registration number to avoid confusion.
• Specify that the horse will be used strictly for riding and showing to limit liabilities.

How to set lease terms and delivery arrangements?

• Define clear start and end dates to provide a framework for the leasing period.
• Clarify who is responsible for arranging the horse's transport and who bears the costs.
• Outline fees for boarding or care if the horse is returned late—this will prevent misunderstandings.

What is the payment structure for leasing a horse?

• Specify any upfront payments due upon signing the agreement.
• Outline how often payments will be made—monthly, quarterly, or at another interval.
• Clarify any last payments due at the end of the lease, including timelines.

How do renewal and extension provisions work?

• State the circumstances under which the lease may be renewed.
• Any extensions should be documented in a written format to ensure validity.
• Provide guidance on how to effectively negotiate any lease renewals.

What are permitted uses and restrictions?

• Define what activities are permitted with the leased horse, such as training or competition.
• Clearly state activities that are not allowed, such as breeding.
• Describe potential consequences for violating these terms, including financial repercussions.

What warranties and responsibilities do the parties hold?

• The owner guarantees certain health and behavioral attributes of the horse.
• The lessee must adhere to specific care guidelines and obligations as outlined in the lease.
• Clarify all responsibilities of the lessee during the lease period, including veterinary care.

How to manage emergency contacts and liability?

• List necessary contact information for handling horse medical emergencies.
• Specify liabilities related to injury or death without negligence established.
• It's advisable to procure insurance to cover damages to persons or property.

What to do in case of lease termination?

• Define clear circumstances under which the lease can be terminated.
• Outline the steps both parties must follow upon lease termination.
• Discuss how security deposits will be managed, including conditions for their return.

How to address breaches and remedies?

• Highlight the typical breaches that occur in horse lease agreements.
• Discuss available remedies for breaches, outlining legal and financial implications.
• Provide actionable steps for resolving disputes through negotiation or mediation.