You may be siblings buying a house together or just 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.
These Joint Tenancy Agreements set out the terms relating to the property purchase, its use, the ongoing obligations during ownership and the rights of each party should the property be sold.
They have been drafted to cover the most popular uses of jointly owned property:-
1. Jointly owned property which will be occupied by the co-owners of the property;
2. Jointly owned property where it is purchased as an investment property and will be rented to a third party;
3. Jointly owned property which will be occupied by one of the Co-owners but not the other.
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!
There are three different agreements in the Kit – we are showing a sample from each document.
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