Co-ownership agreement
When people that are not married to each other enters a co-ownership of a property – or any other substantial physical asset – a co-ownership agreement is often recommended in order to secure a good corporation during the ownership and – maybe especially – to secure the safety and economic consequences in case the owners disagree or one of them passes away.
The agreement must off course decide and distribute the usage of the property or asset. The usage must be divided between the parties but they must also consider rules regarding rental, cleaning, access in holidays etc.
The economic obligations and maintenance must also be addressed.
And finally the agreement must cover the process and terms when one of the parties or all parties wishes to sell or to leave the co-ownership.
At PrivatRevision we have huge experience in forming and adjusting these co-ownership agreements. In most cases we need your wishes and preferences. Hereafter we send a proposal which can be adjusted in several ways. Normally it is a process to come to the proper result.
Please contact us for further counselling.