Protect Your Property with Our Ownership Agreement Collection
A proper ownership agreement can be very important in a lot of situations. To prevent someone from taken advantage of or being in a bad position after making a deal, an agreement needs to be made beforehand. We have a lot of templates that you can find in this article, and the best thing is our templates are all free to download. Simply download, edit if necessary and print anything you want whenever you need it. We hope that by using our ownership agreement, you can get more security and a peace of mind. Keep reading this article if you want to know more about the agreement.
Owners’ Agreement Law and Legal Definition
Owner’s agreement is a binding contract between all co-owners that controls the purchase of the ex-owner’s ownership interest and includes transfer restrictions that control when owners can sell their interest, who can buy the interest and what price will be paid. These agreements are commonly used to cover what happens when an owner backs down, goes bankrupt, retires, becomes disabled, gets divorced, or passes away.
An owner’s agreement is something that needs to be addressed as soon as possible. If you’re the owner, an owner’s agreement can make sure that your property will fall to the right hand after your ownership is over. And to make sure that the process of ownership transfer goes as smooth as possible, a proper owner’s agreement needs to be made.
Let’s take a look at a divorce case for example. In a separation between each partner in a marriage or civil partnership, there is a legal right to maintenance and a share of assets, this includes property. There are no rights for cohabiting couples, this is the case no matter how long they have been together or whether they have children or not.
With a property ownership document in place, you could avoid legal problems if you break up. If you feel like you are making unequal contributions towards the purchase price of a property, the agreement could be crucial for you.
Without an agreement in place, you’ll have a lot of difficulties to establish unequal shares in the property even when one person has contributed a lot more than the other. The agreement itself becomes a contract, that records your interest if you are making a significant contribution.
Anyway, check below for our ownership agreement collection.