Despite the worldwide coronavirus pandemic, the horse market is galloping at full tilt. Sales are up and prices are strong. However, along with the strong market comes the fraught negotiation involved in buying or selling a living, breathing, 1,000-pound animal.
As the buyer, do you want to condition your purchase on a successful pre-purchase veterinarian exam? Are you requesting a trial period? Who is arranging for transport? And as the seller, what statements have you made about the horse? How are you protecting yourself from injury to or the possible death of your horse while it is in someone else’s care? Are you financing any part of the transaction? If you are financing your buyer in any way, this opens up a whole new set of risks relating to securing the debt and transferring ownership.
Advice about Buying or Selling a Horse: Consider the Source
I recently saw a social media post in a horse-related forum, wherein the poster “asked the audience” for advice on what to include in a legal waiver of liability. Um, no. Seriously, horse-people, please ask a lawyer (not the audience!) on how to draft a legal waiver. All too often I advise clients on the back-end of a handshake deal gone wrong. If you have any questions about your rights and the risks arising out of a buy-sell negotiation, check out the resources available on our website or give our equine legal team a call. We are always happy to help, and happy trails.
Equine Legal Advice with Horse Sense
When buying or selling a horse or transacting other equine business, you need sound advice you can count on to protect your interests and the horse. For an experienced equine legal team, contact attorney Allison J. Farrell by phone at Jenkins Fenstermaker, PLLC. Schedule a consultation today by calling (304) 399-9763 or completing this online contact form.