Is the disclosure of ownership required when buying a horse at public auction?
No, the disclosure of ownership is not required under the Sales Integrity Program’s Code of Ethics. However, the Sales Integrity Program recommends that ownership be disclosed. Additionally, sales companies that adhere to the Code of Ethics will establish an ownership registry where ownership may be disclosed. A prospective buyer has every right to ask the consignor anything relative to the horse’s ownership, and if such information is unsatisfactory, he/she may chose to delete the horse from further consideration. A buyer should ensure their sales company includes a Condition of Sale addressing ownership transparency.
