Here are six frequently asked questions that we often receive on the topic of co-ownership: If you would like to continue discussing the justification of a co-ownership agreement and/or the design of a co-ownership agreement, do not hesitate to contact us. We work with you to structure the co-ownership agreement according to your needs and protect your interests. To learn more about our development and real estate services, click here. If you are considering a condominium, it is important to get legal advice to ensure that the investment goes smoothly at all times. There are many reasons why people unite to own property, and the circumstances differ in all cases, and it is important to document the rights and intentions of the parties. The co-ownership agreement defines the legal rights and obligations of the parties and deals with all foreseeable circumstances before they are foreseeable, including issues as important as: it is often advisable that co-owners consider their insurance coverage (including life, PDT and income insurance) before entering into a co-ownership agreement. A co-ownership agreement will break down important elements between the co-owners, such as. B exit strategies, house rules and regulations and monthly financial obligations of all parties. In contrast, a marriage contract deals with issues specific to your life partner, such as. B the alignment of your share in the patrimony in case of separation and rules of trust between you and your life partner if a life partner is not placed on the title deed.
Find an experienced lawyer in condominium contract projects. It is important that an agreement is reached with all partners and that the content of wills or marriage contracts is shared with the lawyer while they prepare your agreement for them to match. A decision to retire, move, or simply wish for a lifestyle change can influence a co-owner`s desire to stay in the condominium agreement. The COA should cover how a co-owner is able to exit the co-ownership agreement in order to prevent their finances from being tied forever to the agreement. The best choice for your condominium agreement depends on what best suits your circumstances. However, a legal agreement protecting a cooperative real estate purchase should be based on a common tenant agreement and include very clear instructions on what happens in the event of a partner`s death, divorce or default. The information below is a brief summary of the issues that should be considered before entering into a co-ownership agreement. . .