Document background
The Tenants in Common Agreement is essential when multiple parties wish to co-own property in India while maintaining separate and distinct ownership shares. This arrangement is commonly used for both residential and commercial properties, allowing co-owners to hold different percentages of ownership and transfer their shares independently. The document becomes particularly important in scenarios involving family property holdings, investment partnerships, or corporate property sharing arrangements. It must comply with Indian legal requirements, including the Transfer of Property Act, 1882, Registration Act, 1908, and relevant state-specific property laws. The agreement typically includes detailed provisions for property management, expense sharing, decision-making processes, and procedures for selling or transferring ownership shares, making it a crucial document for establishing clear guidelines and preventing future disputes between co-owners.
