LEASES

What is the procedure to record a lease?

AQHA must receive a Lease Authorization Form signed by both the lessee and the lessor, listing the beginning and ending dates of the lease. AQHA will no longer use an indefinite ending date. The date cannot exceed three years. The lease fee is $20 if the lessee is a current member, $55 for a nonmember.

What is the procedure to terminate a lease?

A lease will automatically terminate on the ending date specified on the lease authorization. If the lease is to terminate prior to the ending date specified on the lease, a signed statement from both the lessee and lessor listing the date that the lease is to be terminated is required.

A regular transfer will not automatically terminate a lease unless the buyer and lessee are the same. However, a a transfer from a claiming race will automatically terminate a lease. If a transfer is received on a leased horse and the buyer and lessee are not the same, we must have a signed statement from both the lessee and lessor giving a date of termination prior to the sale date.

How do I extend the ending date of a lease?

Send a statement signed by both the lessee and lessor indicating what the new ending date should be or a new lease form. The cost is $20 for a member or $55 for a nonmember.