Are you purchasing an interest in an Australia vacation or investment property together with other co-owners on a tenants in common basis? Set out the rights and obligations of the co-owners in this Australia Tenants in Common Agreement for Vacation or Investment Property
The Agreement is to be signed as a deed and registered at the Land Title Office. Provisions of the Agreement include:
- the proportion of the vacation ⁄ investment property owned by each co-owner;
- the time period during which each co-owner will have exclusive use of the property;
- responsibility of each co-owner for property maintenance;
- appointment of a management and letting agent;
- rental of the property;
- insurance, common costs, and utilities;
- additional capital injections;
- sale of property with and without pre-emption rights;
- mortgage or encumbrance of the property;
- market valuation;
- power of attorney;
- dispute resolution.
This Australia Tenants in Common Agreement for Vacation or Investment Property
is provided in MS Word format and is fully editable to meet your needs.