California Tenancy in Common Agreement - Single Dwelling - up to 4 Owners

California Tenancy in Common Agreement - Single Dwelling - up to 4 Owners
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State:
California
Control #:
CA-DO-004
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Available formats: Word | Rich Text

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Description

Use this agreement to:

state each co-owner's ownership interest in the property; establish exclusive private living areas and a common area; establish rules governing use of the property; allocate shared financial obligations such as mortgage, property tax, common area maintenance, and utilities; provide for dealing with a defaulting co-owner; address the death or bankruptcy of a co-owner; provide a process for the sale or lease of a co-owner's interest in the property; and provide for dispute resolution through mediation and arbitration.

This agreement is not for facilitating the co-ownership of multi-unit properties with exclusive usage rights to particular dwelling units such as condominiums or apartments.

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