Co-Ownership Agreement

Don’t own property together without one.

Too often, people buy real property together with family members or friends with just a general concept of sharing income and expenses but without giving any real thought to the many issues involved with co-ownership.  Without proper planning and agreement on key issues, co-owners are likely to become co-enemies which leads to damaged relationships and lawsuits.

The Strombotne Law Firm provides a comprehensive legal service to help the parties evaluate and agree upon the key issues in the co-ownership of real estate, and prepare the appropriate legal documents and agreements.   Co-ownership issues include the following:

  • Purchase terms
  • Purchase contract and disclosures
  • Representation, escrow and title
  • Form of holding title
  • Percentage ownership interests
  • Length of ownership
  • Payment of expenses, joint bank account
  • Failure to pay
  • Spending limit
  • Remodel and improvement plans
  • Payment for co-owner  labor
  • Occupancy and rental
  • Management
  • Accounting
  • Early termination
  • Death, divorce or incapacity
  • Sale of property
  • Distribution of profit or losses
  • Property tax issues

Please call or email to set your appointment.