Sample Property Co-ownership Agreement For Two Parties In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00036DR
Format:
Word;
Rich Text
Instant download
Description
The Sample Property Co-Ownership Agreement for two parties in Pima outlines the terms and conditions under which two investors, referred to as Alpha and Beta, will co-own a residential property. This agreement includes key features such as the purchase price, down payment contributions by each party, shared equity, and responsibilities regarding property maintenance and tax payments. It establishes that the parties will hold the title as tenants in common and delineates their respective shares of initial equity investments. The agreement also provides for the distribution of proceeds upon the sale of the property and clarifies the process in case of either party's death. Furthermore, it includes provisions for mandatory arbitration in case of disputes and ensures that modifications to the agreement are documented in writing. This document is particularly useful for attorneys, partners, and paralegals involved in real estate transactions, as it facilitates clear communication and understanding between co-owners. Owners will find it beneficial for managing their investment and responsibilities, while legal assistants can utilize it to ensure compliance with applicable laws in drafting such agreements.
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