Document background
The Tenancy in Common Agreement is essential when two or more parties wish to co-own property in India while maintaining separate and distinct ownership interests. This document is commonly used in both residential and commercial property arrangements, providing a clear framework for co-ownership under Indian law. It addresses crucial aspects such as ownership percentages, property management responsibilities, expense sharing, and protocols for selling or transferring interests. The agreement must comply with the Transfer of Property Act, 1882, Registration Act, 1908, and relevant state-specific property laws. It's particularly valuable when co-owners want to maintain individual rights to sell or transfer their share independently, or when they wish to pass their interest to specific beneficiaries upon death.
