Horse Purchase and Sale Agreement (AL)

Buying or selling a horse is a major investment and can be complicated. It's important to have an agreement so everyone understands their responsibilities and the details of the sale.

A purchase and sale agreement is a document that sets forth the terms agreed to by a seller and a buyer, including the purchase price and how it will be paid, the closing date, which party bears the risk of loss until the closing, any warranties and representation, and any other terms the parties may agree to. Without a purchase and sale agreement, the parties do not have enforceable obligations against each other and either party may be able to walk away from the transaction right up until the time ownership of the horse is transferred. At the closing, the transfer should be documented by a bill of sale, which is similar to a deed for a house.

This purchase and sale agreement template is customized specifically for the sale of a horse. It can include important information such as the date of the sale, purchase price, description of the horse, details of any guarantees or warranties made by the seller, or if the horse is sold "as is."

It also has an option to include a right of first refusal. (A right of first refusal provides that in the future, if the current buyer wants to re-sell the horse, they have to offer to sell it to the current seller on the terms in the agreement before they offer it to anyone else.)