Have lessee and lessor complete a lease contract which sets forth the parties respective rights and obligations. Consider all the points that are applicable to your situation take the relevant information to a lawyer so a formal lease agreement can be prepared.

The following basis points should be included:

• When is the commencement and what is the duration.
• What is the monetary obligation and when is it to be paid. (i.e., the first of the month, quarterly)
• who is responsible for the daily care of the horse, is it to be boarded out and if so where, or is it to be under the direct care of the lessee.
• Can the lessee move the horse without the owners consent. (i.e. to a different boarding operation or farm)
• Set out what the intended use of the horse is and if there are any restrictions on use. (i.e. can the horse be used in competitions, trail rides)
• Are there geographical restrictions on where the horse can be taken. (i.e., not out of the province or country)
• Which party is responsible for what costs, which party pays for vet bills for normal health care and what is considered routine health care. (i.e. regular worming and immunizations, which party is responsible for major health problems or accidents)
• Who is responsible for farrier costs and what is the expectation as to frequency of care.
• If the horse is involved in a serious accident or serious sickness i.e. colic, does the lessee have to contact the owner for instructions or can the lessee go ahead with emergency care.
• Provide a mechanism for each party to terminate the lease, i.e. if the lessee is not caring for the animal in accordance with reasonable horsemanlike practices or if the horses is just not suitable for the lessee.
• If lessee, deal only with a reputable horse owner and consider having a second opinion as to suitability and health of the target horse.
• If owner, be careful to ascertain the level of competence of the potential lessee so that a suitable "match" is made; have the potential lessee indicate what their level of competence is and then have it assessed independently; advise lessee of any known vices of horse.
• Disclosure if horse is insured, what value, what coverage and who the insurer is in case approval is required from the insurer for certain procedures to be carried out. Also determine who pays the cost for what insurance and who is the beneficiary of proceeds if any.
• Ensure and include as an obligation that both parties be members of their provincial association.

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