Legal Question in Business Law in Kentucky

Re: Co-owner of horse refuses to sell.

You have already attempted to get your partner's cooperation. A good lawyer will make those same attempts before filing a law suit, but when a lawyer gets involved, the person on the other side tends to sit up and take notice.

I am guessing that there is no written agreement covering the matter. Of course, you can attempt to sell your share of the horse, but I suspect there would be less value in that than an outright sale of the entire horse.

So, I suggest going to a lawyer even if you do not want to file a suit straight out of the gate. I suspect you will save money in the long run.

Re: Co-owner of horse refuses to sell.

If you have a formal Partnership Agreement, Corporation, or LLC, with a buy/sell agreement included, there are certain steps you can take to recover your share of equity in the horse.

Otherwise, it will be necessary to file a civil lawsuit against your partner to determine the value of your ownership interest and to force a sale and division of the asset.

Informal agreements save you the cost of hiring an attorney. Sometimes this savings is "penny wise and pound foolish."

Good luck!