Document background
The Joint Home Ownership Agreement is essential when two or more parties decide to purchase and own real estate property together in Germany. This document becomes necessary in various scenarios, such as couples buying their first home, family members inheriting property, or investors pooling resources for property acquisition. The agreement must comply with German property law, particularly the German Civil Code (BGB) and the Land Register Law (Grundbuchordnung). It details crucial aspects such as ownership percentages, financial responsibilities, usage rights, maintenance obligations, and decision-making processes. The document requires notarization under German law and must be registered with the land registry (Grundbuch). It serves as a foundational document that prevents future disputes by clearly establishing each owner's rights and responsibilities.
