Horse Sale Agreements
Florida law requires the sale or purchase of any interest in an equine to be in writing and to contain the following information:
The name, address, and signature of the seller or seller's agent;
The name, address, and signature of the buyer or buyer's agent;
Name of the horse and its sire and dam, if known;
The horse's breed and registry status, if applicable and known;
The horse's age, if known;
The date of the sale;
The purchase price;
The following statements:
“As the person signing below on behalf of the Owner, I hereby confirm that I am the lawful Owner of this horse or the Owner’s duly authorized agent, and I am authorized to convey legal title to the horse pursuant to this bill of sale.”
“As the person signing below on behalf of the Purchaser, I understand that any warranties or representations from the Owner or the Owner’s agent that I am relying upon in acquiring this horse, including warranties or representations with respect to the horse’s age, medical condition, prior medical treatments, and the existence of any liens or encumbrances, should be stated in writing as part of this bill of sale.”
A note on agents; agents may not act on behalf of both Buyer and Seller (a dual agent) without both parties' knowledge and written consent. A dual agent must also have a signed contract in order to enforce his or her right to a commission. Failure to obtain a written agreement can have harsh consequences for dual agents: unenforceability of the commission agreement.
Additionally, an agent or trainer who has an ownership interest in the horse being sold must disclose their interest and obtain written consent from the buyer if they are the buyer's agent.
The above are just a few of the requirements Florida law imposes on horse sale and purchase transactions. A link to Rule 5H-26 of the Florida Administrative Code pertaining to the purchase and sale of equines can be found here. Please contact the firm for additional information to ensure your interests are protected.
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