Cross Rails to Contracts

Buying a horse is rarely just a purchase. It’s often a milestone — a first show partner for a child, a move up to bigger fences or, in some cases, a return to the saddle after years of standing at the rail.

As a barn dad and lawyer, I’ve watched these moments unfold up close — sometimes with joy, sometimes with quiet regret. And I’ve reviewed contracts that were vague, incomplete or missing entirely, not because of bad intentions, but because no one slowed down long enough to ask the right questions or put expectations in writing.

This article is not legal advice. It’s a practical guide to help you approach one of the most personal — and potentially expensive — decisions in the equestrian world with clarity, caution and confidence.

Do Your Homework. Before you ever set foot in the barn, start with the basics. Ask for videos, show records, vet history and a detailed summary of the horse’s current program. If the horse is represented as a seasoned partner, ask when it last competed, with what kind of rider and at what level. A trustworthy seller won’t hesitate to provide details.

Always invest in a pre-purchase exam. Choose a veterinarian who’s independent of the seller and experienced in performance horses. Radiographs of the hocks, stifles and front feet may reveal maintenance needs or long-term concerns. Have a candid discussion about the findings.

If a trial is offered, confirm everything in writing: who pays for transport, who insures the horse, where it will be kept and what happens in the event of injury. Trial periods can be valuable, but they carry risks.

Also confirm the horse’s registration status. If the horse is registered with a breed or sport association, request a copy of the papers and confirm the seller has the legal authority to transfer ownership. Registration may affect competition eligibility and resale value, so verify that details match.

Take Your Time. Psychologist Daniel Kahneman describes two modes of thinking. System 1 is fast, emotional and intuitive. It’s what causes someone to fall in love with a horse before reading the vet report. System 2 is slow and deliberate. It studies costs, matches goals to ability and asks hard questions.

Horse buying encourages System 1. It’s human nature. But decisions made in haste, even by well-meaning buyers, often lead to regret. Pause. Reflect. Sleep on it. Ask your trainer or trusted adviser to play devil’s advocate. If the horse is truly the right one, it will still be the right one tomorrow.

Put It in Writing. Even in a close-knit barn community, verbal deals are vulnerable to misunderstanding. A written agreement protects both sides.

It should include identifying details — name, age, breed, markings — as well as the full purchase price, payment terms and whether the horse is sold “as is.” If commissions are involved, those should be clearly disclosed.

Include anything material to the horse’s condition or suitability: training history, maintenance routines, known medical issues and included tack or equipment. If a trial is permitted, spell out the details. The more you clarify upfront, the less room there is for confusion later.

Think Ahead. Few riders stay the same for long. Children grow stronger and more ambitious. Horses grow older and slower. Consider whether this horse is likely to meet your needs in two or three years — and what the options are if it doesn’t.

Does the horse have resale value? Could it step down into a lesson program or be leased out? Is there a clear path to retirement if it becomes unrideable? Planning your exit at the time of entry may sound pessimistic, but it’s simply responsible.

Final Thoughts. A well-matched horse can build confidence, teach discipline and create memories that last a lifetime. But even with the best intentions, mismatches happen — and when they do, the costs are rarely just financial.

Take your time. Ask questions. Put things in writing. Buying a horse is a leap of faith. But it doesn’t have to be a shot in the dark.

Peter S. Murphy is a transactional attorney and founder of P.S. Murphy Ltd., a boutique practice based in Kennett Square. He helps businesses and entrepreneurs navigate commercial law, contracts, corporate structuring and regulatory issues. When he’s not working with clients, you’ll find him ringside with coffee in hand at local horse shows. PSMurphyLtd.com.