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 firstname.lastname@example.org or call 1300 791 782.