Co-Ownership of Residential Real Estate
At Aura LLP we understand the intricacies of co-buying or co-selling a property. Whether purchasing a property with family members or with new friends, there are important elements which need to be factored into the structure of the transaction, including reserve fund allocation, spousal rights, maintenance of the property, and the rules and regulations of the property.
In the majority of co-ownership deals, it is necessary to address the rights and responsibilities of co-owners through a Co-ownership Agreement. In other cases, a clear and concise explanation of the legal implications of buying or selling property with others may be all that is needed – the context of your particular situation is often the deciding factor.
By bringing our wealth of knowledge in corporate law, real estate and co-ownership to the table, you can feel comfortable moving forward with your transaction.
We can assist with:
- Drafting a Co-Ownership Agreement
- Reviewing and amending existing Co-Ownership Agreements
- Registering the deed to a property owned by multiple parties
- Reviewing Agreements of Purchase and Sale involving multiple sellers and buyers
- Selling a share of your Co-Owned Property
- Buying a share in a Co-Owned Property
- Drafting Declarations and Rules and Regulations for Co-Owned Properties