Create a bespoke document in minutes, or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Joint Ownership Agreement
"I need a Joint Ownership Agreement for a commercial property in Toronto that will be co-owned by three technology companies, with specific provisions for sharing maintenance costs and establishing a quarterly rotation for using the building's conference facilities, to be effective from March 1, 2025."
1. Parties: Identification and details of all co-owners entering into the agreement
2. Background: Context of the joint ownership arrangement and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Ownership Interests: Specification of each party's ownership percentage and nature of interest
5. Contributions: Initial and ongoing financial contributions required from each co-owner
6. Management and Decision Making: Process for making decisions regarding the property and required majority for different types of decisions
7. Operating Expenses: Allocation of costs for maintenance, repairs, taxes, and other expenses
8. Use and Possession: Rights and limitations regarding use of the property by co-owners
9. Transfer Restrictions: Limitations on selling, transferring, or encumbering ownership interests
10. Right of First Refusal: Process for offering ownership interests to other co-owners before third parties
11. Dispute Resolution: Procedures for resolving conflicts between co-owners
12. Termination: Circumstances and process for terminating the agreement or dissolving the joint ownership
13. General Provisions: Standard legal provisions including governing law, notices, and amendments
1. Property Usage Schedule: For properties with shared usage, defines scheduling and allocation of use times
2. Income Distribution: If the property generates income, specifies how revenues will be distributed
3. Insurance Requirements: Detailed insurance obligations when specific coverage is needed
4. Property Manager: When a third-party manager will be appointed to handle property management
5. Death or Incapacity: Special provisions for succession planning and handling ownership upon death
6. Mortgage Provisions: If the property is mortgaged, includes specific obligations and responsibilities
7. Environmental Matters: For properties with environmental concerns or obligations
8. Development Rights: If the property may be developed, specifies development decision process and rights
1. Schedule A - Property Description: Detailed description of the jointly owned property
2. Schedule B - Initial Contributions: Itemized list of initial financial and asset contributions by each party
3. Schedule C - Operating Budget: Annual budget for property maintenance and operations
4. Schedule D - Management Procedures: Detailed procedures for day-to-day management and decision-making
5. Schedule E - Authorized Representatives: List of designated representatives for each co-owner
6. Appendix 1 - Property Title Documents: Copies of relevant property titles and registration documents
7. Appendix 2 - Valuation Report: Independent valuation of the property at time of agreement
8. Appendix 3 - Insurance Certificates: Copies of insurance policies and certificates
Authors
Property
Co-owners
Ownership Interest
Ownership Share
Common Elements
Operating Expenses
Capital Expenditure
Management Committee
Majority Decision
Special Resolution
Transfer
Encumbrance
Fair Market Value
Business Day
Fiscal Year
Initial Contribution
Additional Contribution
Operating Budget
Reserve Fund
Material Change
Permitted Use
Related Party
Security Interest
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Force Majeure
Event of Default
Insolvency Event
Governing Law
Notice
Property Manager
Maintenance
Improvements
Income
Net Revenue
Qualified Appraiser
Transfer Notice
Valuation Date
Contributions
Management Rights
Decision Making
Financial Obligations
Use Rights
Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Operating Expenses
Maintenance and Repairs
Insurance
Property Management
Income Distribution
Dispute Resolution
Buy-Sell Provisions
Death and Incapacity
Force Majeure
Confidentiality
Representations and Warranties
Indemnification
Termination
Amendment
Assignment
Notices
Governing Law
Severability
Entire Agreement
Further Assurances
Compliance with Laws
Environmental Matters
Tax Matters
Registration Rights
Default and Remedies
Real Estate
Commercial Property
Residential Property
Manufacturing
Natural Resources
Agriculture
Technology
Entertainment
Professional Services
Retail
Healthcare
Education
Mining
Renewable Energy
Infrastructure
Legal
Real Estate
Corporate Development
Finance
Operations
Risk Management
Compliance
Business Development
Investment
Asset Management
Property Management
Project Management
Administrative Services
Real Estate Manager
Property Manager
Corporate Lawyer
Legal Counsel
Business Development Manager
Investment Manager
Asset Manager
Operations Director
Chief Financial Officer
Chief Executive Officer
Risk Manager
Compliance Officer
Partnership Manager
Joint Venture Coordinator
Real Estate Developer
Project Manager
Property Administrator
Investment Analyst
Financial Controller
Find the exact document you need
Tenants In Common Co Ownership Agreement
A Canadian legal agreement establishing rights, responsibilities, and ownership arrangements between multiple parties who share property ownership as tenants in common.
Joint Ownership Agreement
A Canadian legal agreement establishing rights and responsibilities between co-owners of property or assets, conforming to federal and provincial regulations.
Download our whitepaper on the future of AI in Legal
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.