Co Ownership Agreement Template for Indonesia

1. Rental Income: Provisions for managing and distributing rental income when the property is leased to third parties

2. Property Manager: Terms for appointing and managing a professional property manager

3. Right of First Refusal: Procedures giving co-owners first right to purchase when another co-owner wishes to sell their share

4. Insurance: Specific insurance requirements and cost-sharing arrangements

5. Mortgage and Financing: Terms regarding existing or future financing arrangements and mortgage obligations

6. Death or Incapacity: Procedures for handling ownership shares in case of death or incapacity of a co-owner

7. Business Use: Special provisions for when the property is used for business purposes

8. Development Rights: Terms regarding property development or improvement rights and procedures

1. Property Title Documents: Copies of property certificates, registration documents, and title deeds

2. Financial Contributions Schedule: Detailed breakdown of initial contributions and ownership percentages

3. Property Maintenance Schedule: Detailed maintenance responsibilities and schedules

4. Property Plans: Floor plans, land surveys, and property boundaries

5. Existing Encumbrances: List of any existing mortgages, liens, or other encumbrances

6. Contact Information: Detailed contact information for all co-owners and their representatives

7. Property Rules and Regulations: Specific rules for property use and management

8. Cost Allocation Matrix: Detailed breakdown of how different types of costs are shared between co-owners