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Property Sharing Agreement
"I need a Property Sharing Agreement for a commercial building in Dublin that will be co-owned by three companies, with specific provisions for shared maintenance costs and a professional property management company starting from March 2025."
1. Parties: Details of all co-owners including full names, addresses, and contact information
2. Background: Context of the agreement, including property acquisition details and purpose of the sharing arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Ownership Structure: Clear statement of ownership proportions and type of co-ownership (joint tenants or tenants in common)
5. Financial Contributions: Details of initial purchase contributions and ongoing financial responsibilities
6. Property Management: Rules for decision-making regarding property maintenance, improvements, and general management
7. Usage Rights: Terms governing how and when each party can use the property
8. Maintenance and Repairs: Responsibilities and cost-sharing for property maintenance and repairs
9. Insurance: Requirements for property insurance and responsibility for premiums
10. Sale or Transfer: Process and requirements for selling the property or transferring ownership shares
11. Dispute Resolution: Procedures for resolving disagreements between co-owners
12. Termination: Conditions and process for terminating the agreement
13. Governing Law: Confirmation that the agreement is governed by Irish law
1. Rental Arrangements: Terms for renting out the property to third parties, including profit sharing
2. Business Use: Specific terms if the property will be used for business purposes
3. Death or Incapacity: Provisions for handling ownership in case of death or incapacity of a co-owner
4. Mortgage Provisions: Terms relating to mortgage responsibilities if the property is mortgaged
5. Property Manager: Terms for appointing and instructing a property manager
6. Buy-out Provisions: Detailed process for one party buying out another's share
7. Guest Policy: Rules regarding guests and temporary occupants
8. Pets: Rules regarding keeping pets on the property
9. Utilities Management: Specific arrangements for managing and sharing utility costs
1. Schedule 1: Property Details: Full legal description of the property, including title details and any encumbrances
2. Schedule 2: Financial Contributions: Detailed breakdown of initial contributions and ownership percentages
3. Schedule 3: Maintenance Schedule: Regular maintenance requirements and responsibilities
4. Schedule 4: Insurance Requirements: Detailed insurance requirements and specifications
5. Schedule 5: Property Inventory: List of shared furniture, appliances, and equipment if applicable
6. Appendix A: Property Plans: Floor plans and property boundaries
7. Appendix B: Property Valuation: Initial property valuation report or certificate
8. Appendix C: Mortgage Details: Copy of mortgage agreement if applicable
Authors
Property
Co-owners
Ownership Share
Common Areas
Commencement Date
Completion Date
Contribution
Initial Contribution
Monthly Charges
Operating Expenses
Management Decisions
Major Decisions
Maintenance
Repairs
Improvements
Insurance
Mortgage
Encumbrances
Transfer
Disposal
Fair Market Value
Valuation Date
Property Manager
Business Day
Force Majeure
Dispute
Exclusive Use Areas
Permitted Use
Term
Notice
Outgoings
Capital Expenditure
Default Event
Buy-out Option
Right of First Refusal
Special Resolution
Ordinary Resolution
Voting Rights
Property Title
Registration
Ownership Structure
Financial Contributions
Property Management
Decision Making
Usage Rights
Maintenance and Repairs
Insurance
Property Costs
Mortgage Obligations
Transfer Restrictions
Right of First Refusal
Buy-out Rights
Property Sale
Default Events
Force Majeure
Dispute Resolution
Termination
Death or Incapacity
Notices
Assignment
Severability
Entire Agreement
Governing Law
Jurisdiction
Confidentiality
Indemnification
Alterations and Improvements
Utilities
Property Access
Insurance Obligations
Tax Matters
Registration
Successors and Assigns
Real Estate
Property Management
Legal Services
Financial Services
Construction
Property Development
Residential Housing
Commercial Property
Investment Management
Legal
Real Estate
Property Management
Asset Management
Facilities Management
Investment
Operations
Risk Management
Compliance
Finance
Property Lawyer
Real Estate Manager
Property Investment Manager
Legal Counsel
Property Administrator
Estate Agent
Conveyancing Solicitor
Property Development Manager
Asset Manager
Facilities Manager
Property Portfolio Manager
Real Estate Investment Advisor
Property Rights Specialist
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