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Joint Ownership Agreement
"I need a Joint Ownership Agreement for a commercial property in Singapore's CBD that I'm purchasing with two other investors, where we'll each own different proportions (40%, 35%, 25%) and need specific provisions for property management and future sale rights."
1. Parties: Identification and details of all joint owners
2. Background: Context and purpose of the joint ownership arrangement
3. Definitions: Key terms used throughout the agreement
4. Nature of Ownership: Specification of ownership type (joint tenancy or tenancy in common)
5. Ownership Proportions: Clear statement of each party's ownership share
6. Management Rights and Responsibilities: Day-to-day management and decision-making processes
7. Financial Obligations: Cost sharing and expense management
8. Dispute Resolution: Process for resolving disagreements
9. Governing Law: Confirmation of Singapore law as governing law
1. Exit Mechanisms: Procedures for selling interest or terminating ownership - include when parties want predetermined exit options
2. Death or Incapacity: Provisions for succession or transfer upon death/incapacity - include for personal property ownership
3. Usage Rights: Specific rights for using the property - include for properties with shared usage
4. Insurance Requirements: Mandatory insurance coverage - include for valuable assets requiring protection
1. Schedule 1: Asset Description: Detailed description of jointly owned property/assets
2. Schedule 2: Ownership Proportions: Detailed breakdown of ownership shares
3. Schedule 3: Financial Contributions: Initial and ongoing financial commitments
4. Schedule 4: Management Procedures: Detailed procedures for asset management
5. Appendix A: Valuation Reports: Independent valuations if applicable
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