If you purchase real estate with other people most often the co-ownership is as Tenants in Common. Another common arrangement is as Joint Tenants.
The main difference between Joint Tenants and Tenants in Common is transfer of ownership if one of the parties dies. In Joint Tenancy arrangements the share transfers to the remaining owners. Agreements between Tenants in Common will usually say co-owners have the exclusive right to determine how their share will be passed on.
Use this Agreement Between Tenants in Common whenever two or more parties want to buy a home, commercial property or other piece of real estate together.
You may be relatives or friends buying a house together or joining forces in a joint venture property development. Whatever your reasons a written Agreement Between Tenants in Common is crucial to protecting the Interests of all the parties involved.
This document defines the terms and conditions under which the parties record their interest. It will provide you with strong legal recourse should a misunderstanding arise and/or the other parties fails to fulfil its obligations while under contract.
Use for:
You get a bonus Legal Last Will and Testament Kit with easy to follow instructions.
This agreement includes a free bonus copy ($97 VALUE!) of R. P. Emery & Associates newly revised 3rd Edition, “Agreement Preparation Tips, Hints & Secrets” publication. It will show you in simple terms how to thoroughly cover important legal requirements, and how to complete an agreement in detail. In addition, it contains alternative legal clauses and provisions you can use.
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