Jump to content

Can my kid keep horse?


rodeomom
 Share

Recommended Posts

Am contemplating BK and reading boards.

We have a little pony, not really broke if sold probably $150.00 horse market sucks for plain janek, no papers.

Have an oldddd horse that belongs to my stepson, no papers, probably not worth $500.00,

attorney is not worried about these 2 at all.

Before I ask this next question, I want to state I am not trying to hide any assests, just be prepared.

1 upper middle age reg. paint mare. probably could get a low value of $800.00. She is titled so to speak in and or with dh. He is not filing BK. Can we keep the horse as it is my son's and he is 7? any way to exempt, since husband on it also.

child support I rec. on 15 yr old who also rides covers cost of feeding horses. The paint mare has been at a neighbors for a month or so just eating his pasture and he is an old man who likes company of horse, we trade them out occasionally, switch back and forth, have for 2 yrs.

I don't plan to file til after fisrt of year and get tax return and pay taxes and ins. etc with it.

Should I sell to a friend or old man?

I''m not trying to be fradulent, but I don't want to hurt my son either. My mess isn't his fault. Attorney says sell and have paper trail for $.

If I do this over 90 before filing, do I still have to list as property sold.?

This horse is so sweet and won't hurt a fly literally, she is reaally what we call bomb proof, and theyre hard to find.

Link to comment
Share on other sites

your state laws will have a list of exemptions, things you can keep.

i am only familiar with tx law, but i think a certain number of horses (livestock) are exempt, and they may even be covered as 'pets' if they arent income producers. i have no idea if a horse has a title of ownership (like a car) but if your son owns it, and theres no real paper trail that you own the animal, i would just leave it over with the neighbor.

you will need to find the laws to know for certain

Link to comment
Share on other sites

If they are registered they do have a title so to speak, but of course have to have come from reg. parents, etc.

They are reg. by breed, like quarter, paint, etc.

To track down proof, you would have to know the horse's full registered name or #. The associations don't just a list for public viewing of who owns what.

the horse is reg. is me and or dh

thinking of transferring into my daughter name. she has different last name than me and dh and of course would do this 90 prior to filing

can anyone give me the name of a sight where I may research exemption laws for kansas and bk?

thanks so much

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.