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Posts: 10014
Jan 20 12 5:09 PM
Enigma wrote:Is there a way to create a legally binding buy back contract? I have sold 2 (last one being 7ish years ago) and would have taken either one back if necessary but I'm out of state now and it's no longer a realistic option. (One is more than likely passed on by now.) I didn't have a buy back contract but let the folks know that I would if I could if they could not longer keep them. Honestly, didn't truly like either horse and it would have sucked to get either one back, but I don't feel that negates my responsibility to help keep them in a good home.
TheRealCharleyHarvey wrote: They should make a reality show about what microwaves do when they're home alone.
Posts: 8884
Jan 20 12 5:23 PM
apocalypsepony wrote:If by "legally binding" you mean to make sure you get to buy the horse back. No. All you can do is add a clause in the sales contract specifying that the buyer owes you damages if they don't offer you first right of refusal when they sell the horse. But there is no way to make someone sell you back the horse. And you still have to go to court to get your contract enforced and get your damages. Then you have to actually collect them. Basically it's a handy threat that you have to do all the work on. A buyer with integrity doesn't need one in the contract (they'd call you when they sell the horse with just a handshake), and one without won't care if it's there or not.
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Jan 20 12 8:51 PM
Lsrd1 wrote:I stated in this in the other thread, and since this thread was created, you'll have to read it again: nope, never used one, never would, don't see the point. The horse is SOLD. If it was so super special to me, I'd keep it or lease it (although I know NO ONE around here leasing horses, everyone owns them or goes to a rent barn and rides a lesson horse). I don't even understand how the economics of it would work. If I sell a horse today for $1500, do I pay $1500 ten years from now to get it back? Horse might be 25 years old (if I sold it at age 15), and lame. But of course the buyers could easily argue that they put more than that into feeding and vetting over 10 years. If the contract said first right of refusal, they could simply tell me $1500, I would refuse and then they could do what they wanted, haul the horse to auction or whatever. Or if I sell one today for $500 and it's an unbroke 2 year old. New folks have it for 5 years, it's broke out real nice, I certainly can't get it back to $500. Meh, I think it's pretty much a waste of paper. I'd really hate it if I bought a horse and the seller wanted to be almost stalkerish about what I was doing with the horse and such. It's my horse now!
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