Do you own a vacation property in common with one or more other owners? Make sure the rights and obligations of the co-owners are clearly set out with this Right of Use Agreement Between Co-Owners / Tenants in Common. Provisions of the Agreement include:

• ownership interests of each co-owner,
  
• the use periods for each co-owner during the calendar year,
  
• right of each co-owner to sublease the vacation property to someone else during their assigned use period,
  
• leasing to third parties during the balance of the year,
  
• retaining a property manager,
  
• allocation of payment of taxes, costs and expenses,
  
• procedure for selling, mortgaging or dealing with a co-owner's interest if the other co-owners have no pre-emption rights,
  
• if there are pre-emption rights, the other co-owners have a right of first refusal before any co-owner can deal with his/her percentage interest.

This generic vacation property right to use agreement in MS Word format, and is fully editable to meet your needs.