HMH Reality Check said:

Well, you become responsible for this other person's horse, so condition and injuries are blamed on you. Leasing from a friend isn't always the best idea. I leased this pretty Palomino AQHA gelding from this lady who collected Western Pleasure AQHA and just let them sit. We got him jumping and dressage and he was going well, until the lady decides that she didn't want him jumping or being ridden at all, got super pissed at us and took him away. People care about there horses and have many reasons for leasing, wether it be no time or new horse, if something happens to the lease horse, (skinny, injury, vice) the owner isn't going to be happy, and it's going to be your fault. Horses always come with strings and instructions and it's just a pain.

EmeraldHillsFarm said:

A lot of good points about the problems you could potentially run into while leasing. Communication is absolutely key between you and the owner to help avoid these situations (ideally a legal contract is drawn up to outline rights, responsibilities, and terms for breaking the lease on both sides).

However, I cannot stress enough how permanent buying a horse can be! I've known too many people who jumped into horse ownership and gotten stuck with an animal that was unsuitable, or quickly ran into financial trouble because they didn't fully understand all the costs that come with horse ownership. There are pros and cons to buying and leasing, and you need to evaluate your individual situation to determine which is best for you right now.