AUSTRALIA

Before you co-purchase that Australia holiday or investment property with friends or family members, draw up a Tenants in Common Agreement with this easy-to-use template.

Scope of Agreement

The Agreement can be used for joint purchase of time shares, holiday homes, or revenue properties.

Key Provisions

Provisions of the Agreement include:

• the proportion of the property owned by each co-owner;
• the time period during which each co-owner will have exclusive use of the property;
• responsibility of each co-owner for property maintenance;
• appointment of a management and letting agent;
• rental of the property;
• insurance, common costs, and utilities;
• additional capital injections;
• sale of property with and without pre-emption rights;
• mortgage or encumbrance of the property;
• market valuation;
• power of attorney;
• dispute resolution.

How to Use the Document

The Tenants in Common Agreement should be signed as a deed and registered at the applicable Land Title Office.

The template is available in MS Word format and is fully customizable to meet your specific requirements. It is intended for use only within Australia.