3

 

What is a co-ownership contract?

A co-ownership contract is a legal agreement which has clauses that set out rights and obligations of two or more people who wish to or have purchased a property together as tenants in common such as friends, family members, defacto couples whether straight or same sex.

 

It sets out rules such as how:

    – the co-owners will live or invest together,
    – to divide rents and profits,
    – to deal with situations such as mortgage default;
    – how the co-owners can sell out (to each other or the property as a whole); and
    – the co-owners will make decisions about the property.

 

To find out more about PodProperty or our co-ownership contract, email info@podproperty.com.au or call 1300 791 782.