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Land Co-ownership Agreement
Define rights, responsibilities, and usage terms clearly with this Land Co-ownership Agreement Template.
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Land Co-ownership Agreement Template
This Land Co-ownership Agreement (“Agreement”) is entered into on [Date], by and between:
Co-owner 1: [Full Legal Name], residing at [Address].
Co-owner 2: [Full Legal Name], residing at [Address].
Additional Co-owners: [Insert as needed].
Collectively referred to as the “Co-owners.”
1. Purpose
The Co-owners have jointly acquired land located at [Property Address, Legal Description]. This Agreement establishes the terms of ownership, management, and rights of use.
2. Ownership Interests
Each Co-owner shall hold the following ownership interest in the property:
Co-owner 1: [Percentage]
Co-owner 2: [Percentage]
Additional owners as listed in Exhibit A.
3. Possession and Use
All Co-owners shall have equal rights to access and use the land, subject to the ownership shares defined herein. Restrictions or exclusive usage rights (e.g., farming, leasing, building) shall be documented in Exhibit B.
4. Expenses and Contributions
Co-owners agree to share expenses proportionate to their ownership shares, including:
Property taxes
Insurance premiums
Utilities and maintenance costs
Improvements approved by majority decision
Failure to contribute may result in reimbursement claims or liens against the non-paying Co-owner’s share.
5. Management and Decision-Making
Major decisions, such as improvements exceeding $[X], leasing, or sale of the property, shall require consent of [majority/unanimous] Co-owners.
Routine maintenance decisions may be made by any Co-owner acting reasonably.
6. Transfer or Sale of Interests
No Co-owner may sell, transfer, or encumber their share without first offering it to the other Co-owners on equal terms.
If no Co-owner accepts, the share may be transferred to a third party, subject to compliance with applicable law.
7. Dispute Resolution
In case of disputes, Co-owners agree to attempt good-faith negotiation, followed by mediation or arbitration in [Jurisdiction], before resorting to litigation.
8. Term and Termination
This Agreement shall remain in effect until terminated by unanimous consent, sale of the property, or court order. Upon termination, proceeds of sale shall be distributed according to ownership shares.
9. Governing Law
This Agreement shall be governed by and construed under the laws of [State/Country].
10. Entire Agreement
This document represents the full understanding of the Co-owners and supersedes prior discussions. Amendments must be in writing and signed by all Co-owners.
Signatures
Co-owner 1: ___________________________ Date: ____________
Co-owner 2: ___________________________ Date: ____________
Additional Co-owners: __________________ Date: ____________
Details
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Land Co-ownership Agreement
LAND CO-OWNERSHIP AGREEMENT FAQ
What is a Land Co-ownership Agreement?
A Land Co-ownership Agreement is a contract that outlines the ownership shares, use rights, responsibilities, and obligations of multiple individuals or entities who hold title to the same parcel of land. It reduces conflict by making roles clear.
Why is a Land Co-ownership Agreement important?
Without a written agreement, co-owners may face disputes over maintenance, expenses, improvements, or sale of the property. A clear contract establishes enforceable terms, safeguards investments, and supports long-term cooperation.
When should you use a Land Co-ownership Agreement?
Use it whenever two or more parties purchase, inherit, or otherwise share ownership of land. It applies to family land holdings, investment properties, undeveloped plots, and shared-use agricultural or commercial land.
What should a Land Co-ownership Agreement include?
It should cover ownership percentages, financial contributions, rights of use, decision-making procedures, responsibilities for taxes and maintenance, dispute resolution, transfer rights, and procedures for sale or dissolution.
Does this replace property title documents?
No. Title records still control legal ownership, but this agreement clarifies how co-owners interact and manage their property rights beyond what is recorded in public registries.
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