In Southern Oregon, all the leases I know are "free" leases. It's a good idea to draw up a contract outlining what the responsibility of each party is, but what we're seeing is that the person who leases the horse is expected to pay for its upkeep - feed, board, farrier, vet bills. You can write a term for the lease and might want to require that the horse be insured. Sometimes the lease also stipulates what the horse can be used for, ie breeding or not-breeding.
Nancy
