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Joint Ownership Agreement

If you own real estate with your boyfriend, friend or family member, you should consider making a joint ownership agreement. A co-ownership agreement is a written agreement that secures you both by clarifying how you can each have the common housing, including how to deal with any conflicts.

Why should we make a joint agreement?

The co-ownership agreement should be used if you buy a real estate with someone you are not married to. Home buying is one of the biggest investments you make in life and it is therefore important that there is clarification about the conditions for co-ownership. The co-ownership agreement ensures that there are clear rules for ownership of the common housing and how you each get out of ownership in the best possible way, if this becomes relevant. A joint agreement thus clarifies the consequences of buying a real estate together. In this way, conflicts can be avoided between you and increased security is created about the financial investment you each make.

Price: 899,-

Incl. moms

10 - 15 min.

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Save 1.500,-

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Without a collective agreement, it can be expensive

It can have major financial consequences if you do not have a joint agreement that takes into account the legal aspects of the joint. It may seem very distant to enter into a joint agreement, as you are usually on a good footing when buying a real estate together. However, experience shows that it can be very expensive not to protect yourself from any future conflicts.

 

Who can use a joint agreement?

The co-ownership agreement can be used if you are two people who own real estate together. You may be lovers ( so unmarried cohabitants ) or just friends, but you can not use it if you are married. The co-ownership agreement can be used for both house, townhouse, condominium and cooperative housing – whether it is a year-round residence or a holiday home.

 

If you have not paid as much of the cash payment

In addition to the co-ownership agreement taking care to create some guidelines on how to handle any conflict regarding the property, you will also have the opportunity to make a loan agreement ( debt letter ), which will be an integral part of the co-ownership agreement. This is relevant if one of you has added a larger portion of the cash payout amount than the other. The purpose of a loan agreement is that if you want to cancel cohabitation at some point, you will each be able to take the amount with you that you have shot into the home. A loan agreement formally means that the person who paid less borrows the amount paid extra by the other, calculated on the basis of the ownership relationship, and in this way the extra money is secured, if the joint ownership is to be canceled and the home sold.

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