Co Ownership Property Agreement

In this article, we look at seven scenarios in which a condominium agreement could be beneficial. At the time of the sale of the property, it can often be difficult for the co-owners to make joint decisions acceptable to both parties, especially when relations between co-owners are strained. After the death of a Party, its personal representative shall make all payments under this Agreement, fulfil all its obligations and be bound by all provisions of this Agreement. Default provisions should be clearly defined in a co-ownership situation. Co-owners must consider whether an act of delay has been committed, the duration of the default, the nature of the act of omission from a moral and social point of view and the relationship of individuals with other co-owners. Penalties depend on the reasons and duration of the outage. In the absence of an adequate legal agreement, the remaining co-owners will lose control of who lives in their home. When concluding a co-ownership agreement, it is necessary to take into account the potential for collapse of the relationship between the co-owners. . . .