A couple may choose to share their property other than the property law (relationships). You can do this by designating a contractual agreement (sometimes called “pre-marriage” – or “pre-nup”) that indicates how they want to share the property. The use of a contract is the only binding means of separating the property when a relationship ends, with the exception of going to court and issuing court orders. If media reports about an increasing number of shared ownership are accurate, lawyers can expect more work to resolve disputes between co-owners. But our preference at Franklin Law is not to be the ambulance waiting at the foot of the cliff. If you or someone you know is considering some form of common ownership, we strongly advise you to tell us about a co-owner agreement before doing so. These requirements are intended to protect people who enter into a contract, because an agreement has the same effect as a court decision and cannot be easily overturned. Where all the owners occupy the property at the same time. Suitable for use throughout New Zealand. As always, whether it`s real estate-sharing agreements or entering a new business, the parties involved are always on the right track before the start of the new venture.
In such times, it can be difficult to consider, or even identify, problems that can disrupt the parties` relations and arise in an intractable conflict. Recent headlines in the media suggest that agreements on property sharing in Auckland could become a growing trend. Although intergenerational agreements are not new, some commentators suggest that the sharing of real estate among friends is on the rise. Whether the division of ownership between family, friends or investors is the importance of agreeing on the conditions under which common ownership is held prior to entering the relationship is of considerable importance. A co-owner sale contract that is appropriate if, as a general rule, only an owner occupies the entire property at any time.