Rachel Alexandra is a New Mom

[FlBred]

I have always wondered this so I guess now is as good a time as any to ask. Sorry if it is a dumb question but I am just trying to learn about TB industry as a whole and not just looking at a program and the race itself.

how is it determined who the owner of this new born colt is? Is it the Jackson's who own Rachel and Curlin? Is it the Farm where she was bred and delivered the colt? Or is it an owner who essentially invested in the unborn colt once Rachel was in foal?