I am about to go into a partnership with a few people over a new dog. There will be 5 of us involved but I want to know where you get a proper contract drawn up? I have seen people make one themselves , is this ok to do as we have to get this right!
Iwould most definatly go and see a solicitor about this, and get it all drawn up legally. before you do, spend time together and decide what you all want with regard to showing, breeding, food, training, handling etc, and who will keep the dog should it not be good enough to show or breed etc, or will it be sold, the stud fees if a dog, the puppy money if a bitch, where it goes and who has what, also travel fees to shows, entry fees, health fees (vet bills, insurance etc) all this sort of thing. And what happens at the latter end of its life, when the show/breeding days are over, who looks after it till it dies? Lots to think of, and lots to put into writing, but best to get it all sorted beforehand, especially with so many involved. Another thing to think of, if the others are married, their share could be part of property to be divided should a marriage fail, not anice thing to think of, but something for which provision needs to be made just in case, especially if the dog turns into a good show dog where it is more valuble both in its self and the stud/puppy money potential. Partnerships are great, means you can spend more on the purchase and share the costs of everything else, but great care needs to be taken to get everything right at the start.
Forum