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1. Parties: Identifies all co-purchasers and their current addresses
2. Background: Outlines the context of the agreement and the parties' intention to jointly purchase property
3. Definitions: Defines key terms used throughout the agreement
4. Property Details: Specific description of the property being purchased, including legal description and address
5. Purchase Price and Funding: Details of the purchase price and how each party will contribute to the purchase
6. Ownership Structure: Specifies whether the property is held as joint tenants or tenants in common, including ownership percentages
7. Management and Decision Making: Procedures for making decisions about the property, including maintenance, improvements, and sale
8. Expenses and Contributions: How ongoing costs will be shared, including mortgage payments, property taxes, insurance, and maintenance
9. Use and Occupancy: Rules regarding property usage, including any exclusive use areas
10. Transfer or Sale of Interest: Process for handling the sale or transfer of any party's interest in the property
11. Default and Remedies: Consequences and remedies if any party fails to meet their obligations
12. Dispute Resolution: Process for resolving disagreements between the parties
13. General Provisions: Standard legal provisions including governing law, notices, and amendments
1. Rental Income: Provisions for sharing rental income if the property will be leased to tenants
2. Death or Incapacity: Special provisions for handling ownership in case of death or incapacity of a co-owner
3. Right of First Refusal: Process giving co-owners first right to purchase if one party wishes to sell their share
4. Property Manager: Provisions for appointing and instructing a property manager if required
5. Buyout Provisions: Detailed process for one party buying out another's interest
6. Refinancing: Procedures for handling future refinancing of the property
7. Insurance Requirements: Specific insurance requirements beyond standard coverage
8. Special Use Provisions: For properties with specific use requirements or restrictions
9. Exit Strategy: Detailed provisions for terminating the joint ownership arrangement
1. Schedule A - Property Description: Detailed legal description of the property and any included fixtures or chattels
2. Schedule B - Financial Contributions: Detailed breakdown of initial financial contributions from each party
3. Schedule C - Ownership Percentages: Specific percentages of ownership for each party if held as tenants in common
4. Schedule D - Property Management Rules: Detailed rules and procedures for property management and maintenance
5. Schedule E - Expense Allocation: Detailed breakdown of how various expenses will be allocated between parties
6. Appendix 1 - Property Condition Report: Initial condition report of the property at purchase
7. Appendix 2 - Property Valuation: Independent valuation of the property at time of purchase
8. Appendix 3 - Insurance Certificates: Copies of required insurance policies
Property
Closing Date
Co-Owners
Contribution Share
Default
Effective Date
Encumbrance
Gross Floor Area
Improvements
Joint Account
Joint Tenancy
Legal Costs
Maintenance Costs
Management Committee
Mortgage
Operating Costs
Ownership Interest
Ownership Share
Permitted Use
Property Manager
Purchase Price
Real Property Taxes
Related Parties
Required Insurance
Right of First Refusal
Sale Notice
Special Resolution
Tenancy in Common
Term
Third Party
Transfer
Utilities
Valuation Date
Business Day
Common Areas
Fiscal Year
Force Majeure
Insurance Proceeds
Lender
Net Income
Operating Budget
Reserved Matters
Property Purchase
Ownership Structure
Financial Contributions
Payment Terms
Property Management
Decision Making
Expense Allocation
Use and Occupancy
Maintenance and Repairs
Insurance Requirements
Transfer Restrictions
Right of First Refusal
Default and Remedies
Dispute Resolution
Force Majeure
Termination
Death or Incapacity
Assignment
Notices
Confidentiality
Representations and Warranties
Tax Matters
Indemnification
Mortgage Obligations
Property Income
Sale of Interest
Exit Rights
Amendment
Governing Law
Severability
Entire Agreement
Real Estate
Financial Services
Legal Services
Property Management
Insurance
Banking
Investment
Construction
Property Development
Professional Services
Legal
Real Estate
Finance
Risk Management
Compliance
Investment
Property Management
Asset Management
Corporate Development
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Financial Advisor
Mortgage Broker
Legal Counsel
Investment Manager
Asset Manager
Property Developer
Risk Manager
Compliance Officer
Real Estate Investment Analyst
Title Examiner
Estate Planner
Corporate Counsel
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