Joint Ownership Agreement Format In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Joint Ownership Agreement format in Philadelphia is designed for unmarried individuals looking to purchase and hold a residence as joint tenants with rights of survivorship. This form outlines the intention of both parties to share ownership equally and details their responsibilities regarding expenses such as mortgage payments, taxes, and maintenance costs. Key features of the agreement include the creation of a joint checking account for shared expenses and the need for consent before any party can sell or encumber their interest in the property. It also stipulates a method for determining the property's value over time, ensuring fairness in any future sale. The document is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for managing joint ownership situations, protecting both parties' interests while facilitating cooperation. The form includes comprehensive filling instructions, making it accessible for users with different levels of legal experience.
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