What is a Horse Bill of Sale?
A horse bill of sale, also known as documents the sale, equine bill of sale, is a legal contract between two parties that binds them to complete the legal transaction of the horse’s purchase and sale. You need one when you give the ownership to someone else.
When you decide to sell or buy a horse, then like all the other legal formalities, you are supposed to sign a few documents and go through some procedures that let you properly finalize the contract. This bill ensures that everything is done smoothly, without any trouble that can pop up in the long-run if you skip any necessary details before making the contract.
This contract will tie both parties (the buyer and the seller) to safeguard their legal rights if in the future one party changes their mind or conditions. Every state has its different terms and conditions for such agreements.
What Information Can You Get From a Horse Bill of Sale?
A horse bill of sale makes sure that you have added all the essential details concerning the contract’s legally binding before you make a deal. It tells you everything about the seller and the buyer. This bill gives you information about the person who is buying the horse and the one who is selling it.
Their names, addresses, contact numbers are mentioned explicitly on the document. Identifying both parties is especially significant if the sale is handled by agents, like trainers, to know who you are buying the horse from.
This bill also tells you about the whereabouts of the horse’s breed, color, age, size, gender, name, pedigree, passport, and registration numbers. The bill of sale states the price of purchase clearly. All the details regarding the transferring of the amount will be mentioned.
You get to know about the warranties that are being associated with your deal. Last but not least, you get to know about the assurance that comes along with the contract.
When Should I Use a Horse Bill of Sale?
A horse bill of sale is required whenever you are supposed to sell, buy or give the horse ownership to someone else. Without the bill of sale, you don’t have any legal proof to verify the agreement that legally safeguards your rights that are being interlinked with the deal.
You can also utilize a completed horse bill of sale to state whether you’re the purchaser or the seller. As the seller, a horse bill of sale helps you if there are any issues with the horse after the sale, and the buyer tries to get their money back. Here, it’s the buyer’s responsibility to take care of the horse as it is his or her sole duty now, as the seller has nothing to do with it.
As the purchaser, a horse bill of sale will save you if the seller tries to reclaim the equine since the bill of sale legally states that you are the horse’s actual owner. You can use a horse bill of sale if any issues arise after the completion of the agreement.
What Should I Do About Buying a Horse?
There are a few essential things to keep in mind when it comes to buying a horse. As it comes with a huge responsibility, you need to make sure of some things to help you make the right decision. Following are some tips to remember if you have decided to purchase a horse. These will help you in knowing what you are supposed to do about buying a horse.
You should know what kind of horse you want to buy. According to your status, you can choose the type of horse that you should buy. If you are a rancher, a horse breeder, or want to buy one for the first time. There are different types of horses, and you should know beforehand which one you need.
Choose the horse according to your budget. There are different breeds, and they have different prices, so go for the one that suits you the best. If you need to buy a horse, then go for the credible sources that allow you to purchase one from reliable sources.
When you have decided to sell the horse, you must meet the buyer in person as it helps you know about them in a better way. You can also negotiate the price at this stage as the agreement isn’t finalized yet. You can take the vet for a physical examination to know that it is in a healthy condition or not.
How to Write a Horse Bill of Sale?
To write a horse bill of sale, you need to keep in mind that you should add to the contract before the deal is finalized. Following are the important deals that you should add while writing a horse bill of sale.
You are supposed to add the date of sale and the seller’s necessary details, like their name, address, and contact number. The details of the horse should also be added. It includes the name, gender, registration number, date of birth, breed, etc.
After all the above things, the purchase of the price, security deposit, signs from both parties, and acknowledgment of notary public will come afterward.
We hope that the above article will help all those who are thinking about buying, selling, or giving the ownership of a horse to someone else. All those who didn’t know how all of this works know now what they need to do if they want to go through the whole process by keeping in mind the legal formalities. Using a horse bill of sale can save you from many issues that can arise later, after the agreement's legal transaction.