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Co Ownership Deed
"I need a Co-Ownership Deed for a commercial property in Sydney that will be jointly owned by three corporate entities, with one entity holding 50% ownership and the other two holding 25% each, including provisions for professional property management and future development rights."
1. Parties: Identifies and provides full details of all co-owners entering into the deed
2. Background: Outlines the context of the co-ownership arrangement and the purpose of the deed
3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles
4. Property Details: Specifies the property subject to co-ownership, including full legal description and title details
5. Ownership Interests: Defines each co-owner's share/percentage of ownership and nature of the interest
6. Financial Contributions: Details initial and ongoing financial contributions, including purchase price, mortgage, and maintenance costs
7. Management and Decision Making: Establishes procedures for property management decisions and voting rights
8. Expenses and Income: Outlines how property expenses and any income will be shared among co-owners
9. Usage Rights: Defines how the property may be used and occupied by co-owners
10. Transfer of Interests: Procedures for selling, transferring, or encumbering ownership interests
11. Dispute Resolution: Processes for resolving disagreements between co-owners
12. Default and Remedy: Consequences of breach and available remedies
13. Termination: Circumstances and procedures for terminating the co-ownership arrangement
14. General Provisions: Standard legal provisions including notices, governing law, and entire agreement
1. Property Management Agreement: Detailed terms for professional property management, required if the property will be managed by a third party
2. Rental Arrangements: Specific provisions for renting out the property, needed if property will be leased to tenants
3. Buy-Out Provisions: Detailed procedures for one co-owner buying others' interests, included if parties want pre-agreed buy-out terms
4. Death or Incapacity: Special provisions dealing with death or incapacity of a co-owner, important for family arrangements
5. Mortgage Requirements: Specific provisions relating to mortgage obligations, required if property is mortgaged
6. Insurance Requirements: Detailed insurance obligations, important for high-value properties or commercial use
7. Development Rights: Provisions for property development or improvements, needed if development is contemplated
8. Foreign Investment Provisions: Special requirements for foreign co-owners, required if any owner is a foreign person
1. Schedule 1 - Property Description: Detailed legal description of the property including title details, boundaries, and improvements
2. Schedule 2 - Ownership Percentages: Table showing exact ownership percentages and contribution amounts of each co-owner
3. Schedule 3 - Financial Contributions: Detailed breakdown of initial and agreed future financial contributions
4. Schedule 4 - Approved Property Manager: Details of appointed property manager and management terms if applicable
5. Schedule 5 - Pre-existing Encumbrances: List of any existing mortgages, easements, or other encumbrances on the property
6. Appendix A - Property Valuation: Current professional valuation of the property
7. Appendix B - Property Condition Report: Detailed report on property condition at time of agreement
8. Appendix C - Maintenance Schedule: Agreed schedule for regular maintenance and responsibilities
Authors
Real Estate
Property Development
Investment Management
Commercial Property
Residential Property
Agriculture
Retail
Hospitality
Industrial
Mining
Legal
Property Management
Real Estate
Investment
Finance
Compliance
Risk Management
Asset Management
Business Development
Operations
Property Manager
Real Estate Agent
Property Developer
Investment Manager
Legal Counsel
Corporate Lawyer
Property Lawyer
Financial Advisor
Tax Accountant
Business Development Manager
Asset Manager
Property Portfolio Manager
Trust Manager
Compliance Officer
Real Estate Investment Manager
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