Co-Ownership Agreements

Buying property with someone else—whether it’s a spouse, family member, friend, or investor—can be a smart way to enter or grow in the real estate market. But co-ownership also comes with legal, financial, and practical risks if you do not document expectations clearly from the outset.

A co-ownership agreement is a customized legal agreement that sets out how co-owners will hold, manage, and eventually exit a shared property. It is especially important where the parties are not married, are contributing unequal funds, or have different long-term goals for the property.

Why a Co-Ownership Agreement Matters

Without a written agreement, co-owners are often subject to default legal rules that may not reflect their intentions. Disputes can arise over contributions, expenses, use of the property, or what would happen if one owner wanted to sell or was no longer able to meet their obligations.

A properly drafted co-ownership agreement helps:

• Reduce the risk of disputes and costly litigation
• Protect unequal financial contributions
• Provide clarity during life changes (relationship breakdowns, death, incapacity, or financial stress)
• Create a clear and fair exit strategy for all parties

What We Cover

While our co-ownership agreements are tailored to the specific arrangement, they may address:

• Ownership structure (joint tenancy vs. tenants-in-common and percentage interests)
• Initial and ongoing financial contributions, including down payments, mortgage payments, taxes, insurance, and maintenance
• Use and occupation of the property
• Decision-making and management responsibilities
• Sale, buy-out, and exit provisions, including valuation mechanisms and timelines
• What happens on default, separation, death, or incapacity of a co-owner
• Dispute resolution mechanisms to avoid court where possible

When You Should Consider One

A co-ownership agreement is strongly recommended when:

• Friends or family are buying property together
• One party is contributing more to the purchase price or ongoing expenses
• Parents are assisting an adult child with a home purchase
• Investors are purchasing property together
• Parties want certainty about what happens if circumstances change

Our Approach

We take a practical, forward-looking approach to co-ownership agreements. Our goal is not only to document the deal, but also to help clients think through scenarios they may not have considered yet, before they become real problems.

Each agreement is tailored to the property, the parties involved, and their long-term objectives, with a focus on clarity, fairness, and risk management.