Property Co Ownership Agreement Template for Pakistan

1. Rental Income Distribution: Rules for sharing rental income if the property is to be leased

2. Property Development: Procedures for property improvements or development projects

3. Insurance Requirements: Specific insurance obligations and cost sharing for insurance premiums

4. Right of First Refusal: Process giving co-owners first right to purchase if one party wishes to sell

5. Succession Planning: Provisions for inheritance and transfer of shares upon death

6. Property Manager Appointment: Terms for appointing and managing a property manager if required

7. Mortgage Provisions: Terms regarding existing or future mortgages on the property

8. Religious Requirements: Specific provisions aligned with Islamic law if required by the parties

1. Schedule 1 - Property Description: Detailed property specifications, including maps, plans, and certificates

2. Schedule 2 - Ownership Distribution: Detailed breakdown of ownership shares and contribution records

3. Schedule 3 - Financial Contributions: Record of initial and ongoing financial contributions by each co-owner

4. Schedule 4 - Maintenance Schedule: Regular maintenance requirements and responsibilities

5. Schedule 5 - Usage Schedule: If applicable, schedule of usage rights for different co-owners

6. Appendix A - Property Documents: Copies of property title, registration, and other relevant certificates

7. Appendix B - Co-owners' Contact Information: Detailed contact information and alternate contact persons

8. Appendix C - Property Rules: Detailed rules and regulations for property use and management