Co-Buyer Agreement

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. With regard to marriage, co-ownership agreements are a precise mechanism for managing property between spouses, and they are preferable to marriage contracts, as they deal with all aspects of ownership and the specific use of real estate. Indeed, we recommend that a co-ownership contract associated with a marriage contract be used, as a well-prepared marriage contract addresses complex issues that a co-ownership contract will not address, such as the consequences of marital dissolution, child-raising goals, custody agreements and alimony. Of course, unpredictable events happen from time to time and goals, intentions and living conditions can change unexpectedly. It is important that the co-ownership agreement can be modified and revised over time (provided that everyone agrees with the new conditions). An adaptable and flexible agreement is important, but there is also something formal and written so that the parties can address the agreement when they cannot resolve their differences with each other in case of problems. In all contexts, co-ownership agreements create binding obligations; They provide guidance by providing a contractual framework of rights and obligations and ensuring that all co-owners are able to make decisions efficiently and effectively. But finding like-minded buyers is only half the truth. The other half is the establishment of a binding agreement to settle the relationship.

A co-owner is an individual or group who shares ownership of an asset with another person or group. Each co-owner owns a percentage of the assets, although the amount may vary depending on the ownership agreement…