A horse’s sale or transfer between a seller and a buyer is documented by a horse bill of sale. It is also known as an equine bill of sale.
Additionally, a bill of sale for a horse demonstrates that ownership of the animal has been legally transferred. It has been transferred to a new owner when purchasing a horse or pony.
Furthermore, this agreement is a legally enforceable contract that safeguards both the buyer and the seller. It safeguards them in the event that any party later changes its mind or a dispute arises.
Statistically, the entire equestrian market in the US is worth $102 billion. This market’s competition sector accounts for $28.3 billion, or 32% of the total market. Also, this market’s recreation segment accounts for $18 billion, or 18%, of the overall market.
Want to know more about the Horse Bill of Sale Form? Keep reading.
What is Horse Bill of Sale Form?
As stated, a horse bill of sale is a legal record that records the exchange of money for a horse. It happens between a seller and a buyer. The seller agrees to give the buyer ownership of a horse in return for a specified sum of money.
However, comparing the process of buying a horse to that of buying a dog or cat, there may be significant differences.
Compared to owning other pets, caring for a horse involves far more responsibility and maintenance. This includes providing the animal with the correct housing, food, and care.
Additionally, compared to other animals, purchasing a horse could require a bigger financial commitment. Horses, like other animals, can cost more than $500, thus when buying one, there should be some form of paperwork.
Due to these factors, individuals who buy and sell horses frequently transfer ownership of these animals. They do this by using an equine bill of sale form.
Additionally, an equine bill of sale form is similar to other common forms that describe significant sales. Such a contract may also be referred to as a horse contract, an equine contract, or a horse purchase agreement. A description of the goods, in this case the horse, should be included in this kind of bill of sale.
This bill of sale may include information about the horse’s name, size, gender, pedigree, markings, colors, and other physical characteristics. If the horse is anticipated to bear children, the bill of sale may include any information about breeding the animal.
Furthermore, purchase price might also be included in the written agreement between the buyer and the seller. Some states, like Kentucky and California, demand an equine contract.
Why Do You Need a Bill of Sale For a Horse?
Every time you want to buy, sell, or transfer ownership of a horse, you should use a horse bill of sale. There’s no way to demonstrate that the ownership of the horse has been properly transferred without a bill of sale.
Additionally, every time a horse is sold, bought, or transferred, a bill of sale is mandated by law in various states. This includes: California, Florida, and Kentucky.
Whether you’re the buyer or the seller, you can use a completed equine bill of sale to safeguard your interests.
An equine contract safeguards you as the seller. It safeguards you in the event that the horse has issues after the transaction and the buyer seeks a refund.
However, with this contract, the horse is sold “as-is.” This means the seller is no longer liable if the buyer finds any problems after the deal is done.
Also, an equine contract formally establishes your ownership of the animal. It will defend you against any attempts by the vendor to have it returned.
See also: What is Bargain and Sale Deed?
Why Should You Use a Horse Bill of Sale?
Horse sales can be extremely expensive, therefore having documentation like a horse contract is crucial.
If there are issues, it may be challenging for the seller or the buyer to obtain a resolution without a record. An equine contract provides documentation of the animal’s state and any additional seller guarantees.
Additionally, the buyer may turn to the court to resolve the matter. Especially if it turns out that the horse is not in good medical condition.
If there is a formal equine contract rather than a less formal method of transferring ownership, the seller is also better protected.
Also, in expensive horse sales, the seller frequently has to foot the bill for veterinary checkups or other procedures. It’s more likely that the buyer will be sincere and not squander the seller’s time and money throughout the transaction. Especially if an official document has been prepared.
Equine Contract Requirements
A straightforward Horse Bill of Sale serves as evidence of the transaction and contains the information listed below:
- 1.Owner of the horse at the time of sale is the seller.
- 2.Buyer: the one who acquires ownership of the horse.
- 3.Horse information. This includes the horse’s birthdate, coat color (bay, chestnut, or gray), sex, breed, registration number, and any tattoos or markings.
- 4.Sire: information regarding the horse’s father, including his registration number
- 5.Dam: information regarding the mother of the horse, including her registration number.
- 6.Price: Indicate the purchase price, the method of payment (whole or in installments). And the date on which the registration papers will be transferred.
- 7.Whether the horse is being offered “as is” or whether there are warranties
- 8.When did the Seller sell the horse to the Buyer?
How to write an Equine Bill of Sale
A person who is looking to sell a horse first advertises the animal to possible buyers before completing the contract. The document might begin to be prepared as soon as the seller finds a prospective buyer.
However, before the sale can proceed, the seller will determine a price for the horse. And can ask for a down payment. The buyer typically has to inquire about the horse’s history, abilities, health, and breeding prospects.
Also, a veterinarian’s examination of the horse before sale must be agreed upon by both the buyer and the seller.
Registration documents describing a horse’s pedigree are frequently present, many horse sales transactions also involve the transfer of these documents. The seller and buyer must mention any state requirements for a horse bill of sale.
In general, a straightforward horse contract should address the following fundamentals:
- Who purchases and sells horses?
- What the horse’s purchasing price is for upcoming tax purposes
- Both the location and horse’s registration number
- The moment the horse is bought
- How the horse is sold—whether it is “as is” or with guarantees and conditions.
These more factors may be covered in a horse bill of sale as well:
- Breeding rights: Whether or not the horse’s breeding rights are being transferred
- Commission: Whether the buyer and/or seller will give a broker, trainer, or other third party a certain sum or percentage. The percentage of the sale price in exchange for assistance in arranging the transaction is known as the commission.
- Deposit: if the customer rejects the horse after certifying its soundness with a veterinarian. Under what circumstances the seller must reimburse the deposit.
- Registration Papers: Make sure the horse description and registered owner match. Also, find out when the official registration documents should be delivered to the buyer.
- Veterinarian’s Exam: If the horse is being sold “as is,” the buyer may be able to obtain a pre-purchase veterinary examination. And blood samples from a nearby veterinarian.
How To Fill Out Bill Of Sale
Below are the steps to follow to fill out a horse contract:
Preparation
The first step in preparing to fill out a horse contract is to learn as much as you can. Learn about the animal. The seller must locate the horse’s registration documents and include the pertinent information in the bill of sale.
Additionally, the seller must include the horse’s lineage and date of birth in the document. The seller must also examine the horse’s physical condition. And use that information to write a description of the horse’s color, size and markings.
Furthermore, a serious buyer must then be found, and the seller must negotiate a price and deposit for the animal.
Selecting a Software
After the seller and the buyer have decided and established all of the sale’s logistics, the seller may begin drafting.
However, going electronic with an equine contract and selecting a practical software application is preferable. This tool also allows the seller the ability to make adjustments and handle everything electronically.
See also: DEFERRED SALES TRUST: Complete Guide In 2023
Complete or Edit the Bill of Sale
Typically, the seller is in charge of completing and modifying the bill of sale. The vendor must make sure that all of the animal’s information is precisely entered into the program during the authoring phase.
Examine
Next, the seller should carefully check the document for accuracy and faults. This is because the bill of sale is a legal document.
Also, the information regarding the horse that was disclosed to the buyer by the seller should be reflected.
Save, Download, Print, or Send for Signature
After reviewing the document, save it and sign it. The seller may print or electronically send the bill of sale to the buyer for signature.
Tips For Selling a Horse
Horses who fall victim to con artists face major risks because scammers care little or nothing for their welfare. Your horse is more likely to have a stable future. That’s if you put more effort into ensuring that the person you sell your horse to has his best interests.
Also, genuine buyers must be able to comply with any conceivable requirement.
Is selling the wisest course of action for the long-term welfare of your horse?
Any legal or other interests in your horse’s care are forfeited once you sell. Loaning it out or even putting it to death may be a better choice. Especially if you are worried about his wellbeing being in danger.
Also, while choosing to put your horse to sleep humanely is never easy, it may be the best thing for it.
Prioritize the welfare of your horse
To determine whether a potential buyer is suitable, find out over the phone exactly what they plan to use the horse for. Also find out what type of experience they have, and what kind of facilities they have.
Be sincere
You must be honest about your horse’s age, abilities, and potential. You might as well be sincere about the reason you are selling him if you want to ensure his well-being.
The importance of identity
Additionally, bring all of its supporting paperwork. This will convince any potential purchaser that you were truthful about the horse’s age. Also, you have the legal right to sell him.
Make rigorous checks
Furthermore, look up the potential buyer online. Social media platforms could be a reliable source of information.
Horse Bill of Sale Form Template
HORSE BILL OF SALE
I. The Parties. This bill of sale was created on the ____ day of _________________, 20____ between a Buyer known as ________________________ with a mailing address of ________________________ and a Seller known as ____________________ with a mailing address of _________________.
II. Horse Description. The Buyer agrees to purchase the horse described as:
Name: __________ Breed: __________ Gender: __________ Date of Birth: ____________ Registration Number: ____________
Description: ________________________
III. Purchase Price. The Seller agrees to the sale of the above-described horse for the amount of $________________ (US Dollars).
IV. Horse Health Check.
(Check One)
☐ – The Seller agrees to allow the Buyer to inspect the horse with a third (3rd) party health expert until the ____ day of _________________, 20____.
☐ – The Buyer does not need a health check and is purchasing the horse “as-is”.
V. Security Deposit.
(Check One)
☐ – The Buyer agrees to put forth a Security Deposit in the amount of $________________ (US Dollars) being credited to the purchase price on the Sale Date. The following terms/conditions are associated with the Security Deposit:
______________________________________________________________________
☐ – There is no Security Deposit and all funds will be present on the Sale Date.
VII. Other Claims.
The Seller certifies that the horse:
Is free of any liens, debt, or encumbrances;
That the Seller is the lawful owner of the horse with the rights to sell it.
The Buyer claims that:
They are purchasing the horse in an “as-is” condition on the Date of Sale with the right of inspecting the horse being waived or satisfied;
Again, they are aware of the health and safety risks of owning, riding, and caring for the horse;
They will not hold the Seller liable for any claims after the Date of Sale in reference to the horse.
VIII. Governing Law.
This agreement shall be bound under the laws in the State of ________________.
IX. Signature.
As of this ___ day of _________________, 20___ the buyer and seller agree to the above described terms and conditions for the sale/trade/exchange of the horse.
SELLER
SIGNATURE: ________________________ PRINTED NAME: __________________
BUYER
SIGNATURE: ________________________ PRINTED NAME: __________________
WITNESS 1
SIGNATURE: ________________________ PRINTED NAME: __________________
WITNESS 2
SIGNATURE: ________________________ PRINTED NAME: __________________
ACKNOWLEDGMENT OF NOTARY PUBLIC
STATE OF ______________________
_____________ County, ss.
On this ____ day of _______________________, 20___, before me appeared ____________________, as Buyer of this Bill of Sale who proved to me through government issued photo identification to be the above-named person, in my presence executed foregoing instrument and acknowledged that he/she executed the same as his/her free act and deed.
____________________________
Notary Public
My commission expires:_________
STATE OF ______________________
_____________ County, ss.
On this ____ day of _______________________, 20___, before me appeared ____________________, as Seller of this Bill of Sale who proved to me through government-issued photo identification to be the above-named person, in my presence executed the foregoing instrument and acknowledged that he/she executed the same as his/her free act and deed.
____________________________
Notary Public
My commission expires:_________
Conclusion
Now, we’ve seen how important a horse bill of sale form is.
However, you should know that people sell their horses for a variety of reasons. Some are extremely reputable and trustworthy persons who do it professionally. While many others do so because their horse is no longer capable of doing the task they require of him.
Finally, many people may be forced to sell their horse due to a change in circumstances. No matter why a horse is being sold, it is crucial to put its long-term welfare first.
FAQs
Depending on your state, a Horse Bill of Sale may be required. For example, California, Florida, and Kentucky require a Horse Bill of Sale every time a horse is sold, bought, or transferred.
Complete the process of creating a horse bill of sale correctly. You and the buyer will normally each receive a copy of the document after it has been signed.
These include a purchase receipt, your historic bills from vets or farriers and old insurance documents.
References
Recommendation
