If you answered „no“ to more than two (2) of the following questions, you may not have dealt with all the issues with your co-owners and we strongly recommend that you enter into a condominium agreement. Contact us to learn more about how we can help you. Co-ownership agreements can be concluded during the purchase of real estate, immediately after the purchase or on a date requested by the co-owners. Default provisions should be clearly defined in a co-ownership situation. Co-owners must consider whether an act of delay has been committed, the duration of the default, the nature of the act of omission from a moral and social point of view and the relationship of individuals with other co-owners. Penalties depend on the reasons and duration of the outage. The more serious the failure, the more likely it is that it will have serious consequences and that it may require the withdrawal of a co-owner. It is important to take legal action in this area, even if the failure can be resolved by mutual agreement. It may seem very intimate to share the will with house partners you may have just met, but this transparency will help resolve disputes about what is happening at home: your partners will thank you.

Your lawyer will need as much information as possible regarding contributions to the purchase price and expenses. Your lawyer will advise you on the terms of the agreement that are appropriate for your particular circumstances. The agreement provides that your share must first be put up for sale to your co-owner. If your co-owner wishes to acquire your share of the property, a price must be agreed and the mechanism is defined in the agreement. This draft contract only requires the filling in of empty modifications for the vast majority of investments. It can be used as a full-fledged document or with our Memorandum of Understanding for even more protection. For co-owners with more complicated agreements, our lawyers can help with proposals and modifications for a little extra fee.. .

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