What is a “half-lease” (sometimes called a “share board” arrangement)? Don’t ask any lawyer since the term won’t be found in law books (except for this author’s Equine Law books). These arrangements enable horse owners to continue use of their horses, though limited, while another person shares use of the horse. Horse owners sometimes consider these arrangements as a way of sharing expenses of boarding and care. The problem is, these arrangements can create problems and unintended consequences. This article discusses legal aspects of “half lease/share board” arrangements.