Agreement between Tenants in Common with Bonus Legal Will Kit

An agreement between tenants in common is a legal document that outlines the rights and responsibilities of co-owners of a property held as tenants in common. In this type of ownership, each tenant in common owns a specific share of the property, which can be equal or unequal, and each has the right to transfer or bequeath their share independently.

A written Agreement Between Tenants in Common is crucial whenever two or more parties want to buy a home, commercial property or other piece of real estate together, because it protects the interests of all the parties involved.

You may be siblings buying a house together or friends joining forces in a Joint Venture Property Development – whatever your reasons, the importance of clear documentation that sets out the terms under which the parties record their interest, cannot be under estimated.

To ensure that your Agreement is valid, you must clearly state your desire to enter into such a co-ownership.

Each party who buys a part of the property must agree to the terms, and the agreement must be in writing.

You will also need to ensure that the specific portions of ownership and responsibilities for upkeep and maintenance are spelled out.

Key aspects typically covered in such a Tenants in Common agreement include:

Buy Agreement between Tenants in Common Only $149.00

This type of agreement is also known as a Shared Property Ownership Agreement, Joint Ownership Agreement or Co-ownership of Property Agreement.

This easy to edit Agreement between Tenants in Common template (Word doc. format) is available for immediate download after purchase. It saves you time, money and provides solid legal protection without hefty legal fees.

Ownership Shares: Specifies the proportion of the property each tenant in common owns.
Management and Maintenance: Outlines how decisions about property management, maintenance, and expenses will be made and shared.
Income and Expenses: Details how rental income (if any) and expenses (such as mortgage payments, property taxes, and repairs) will be divided among the co-owners.
Rights of Use: Clarifies each co-owner’s rights to use the property, including any exclusive use of certain parts of the property.
Dispute Resolution: Establishes procedures for resolving disagreements among co-owners, which might include mediation or arbitration.
Transfer of Shares: Sets forth the conditions under which an owner can sell, transfer, or bequeath their share of the property, often including rights of first refusal for the other co-owners.
Termination of Agreement: Describes the process for ending the co-ownership arrangement, whether through sale of the property or other means.

This agreement helps ensure that all parties have a clear understanding of their rights and obligations, reducing the potential for disputes and misunderstandings.

The terms Joint Tenancy and Tenants in Common can be confusing and they mean two very different things when it comes to property ownership. To learn the difference – see our article What’s the difference between tenants in common and Joint tenancy?

We also have other types of co-ownership / tenancy agreements like a Shared House Licence and Co-ownership of Aircraft or Marine Vessel.

Why Choose Our Tenants in Common Agreement Kit?

When it comes to protecting your property and legal rights, quality and reliability are paramount. Our Tenants in Common Agreement Kit, crafted by experienced Australian lawyers, ensures that you have comprehensive and legally sound documents tailored to the specific needs of jointly owned properties in Australia. Here’s why our kit stands out:

Tailored for Australian Law: Our agreements are specifically designed to comply with Australian legal standards, ensuring they are fully applicable and enforceable within the country.

Comprehensive Coverage: Our kit includes three distinct agreements, covering:

Properties jointly owned and occupied by co-owners.
Investment properties rented to third parties.
Properties occupied by one co-owner while the other does not reside there.

Expertise and Precision: Our documents are written by seasoned Australian lawyers, ensuring every detail is meticulously addressed.

Beware of Low-Cost Alternatives

While it may be tempting to opt for cheaper documents, such as those offered by some overseas providers, there are several risks involved:

Legal Incompatibility: Documents not tailored for Australian law may not hold up in legal disputes, putting your investment and rights at risk.
Lack of Detail: Lower-cost documents often lack the comprehensive detail and precision required to address specific scenarios and protect your interests fully.
Hidden Costs: Initial savings can lead to significant expenses later on due to the need for revisions, legal consultations, or disputes arising from inadequate documentation.
Misleading Offers: Some vendors may advertise free documents, but then charge you to access or download them. Our pricing is transparent, and what you see is what you get—no hidden fees or unexpected charges.

Invest in Peace of Mind

By choosing our Tenants in Common Agreement Kit, you’re investing in peace of mind, knowing that your documents are crafted to the highest standards of quality and reliability. Don’t compromise on something as crucial as your property agreements—opt for a solution that ensures your interests are safeguarded with precision and expertise.

The Tenants in Common Agreement Template with easy to follow instructions includes the following provisions-

The parties
The property
Term
Ownership
Obligations of the parties
Property maintenance
Personal Property
Bank Accounts
Mortgage obligations
Use of the property
Insurances
Default
Transfer of Interest and Right of First Refusal
Sale Proceeds
Life Insurance
Notices
Disputes and Arbitration
Assignment
Amendments
Termination
Signatures

Your professionally drafted, easy to use tenants in common agreements are available for immediate download. The documents come to you as a Microsoft Word templates that can be used as often as you like. Simply insert the correct information in the appropriate field and tab to the next. Now print your professional agreement!

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Absolute breeze to use

Sample Document Excerpt of the Tenants in Common Agreement

There are three different agreements in the Kit – we are showing a sample from each document.

Sample agreement between tenants in common height=

Sample TIC 4

tenants in common agreement sample investment

tenants in common cohabitation agreement sample

Sample TIC 2

Sample Tenants in common

Sample TIC 3

Your ready-to-use kit includes everything you need

3 Professionally drafted Tenants in Common Agreements
Comprehensive User’s Guide
Bonus legal Will Kit
Friendly customer support
Optional Document Review Service.

Our fully secured ecommerce system allows you to purchase and download your Agreement between Tenants in Common safely. In just a few minutes you can have everything you need to protect the interests of all the parties involved.

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