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Property Sharing Agreements

If you have done so already, we recommend you have a look at our free Guidance Note on Property Sharing Agreements which is in the Free Guides section of our website.

Property sharing agreements are a good idea when parties are going to be jointly owning Property, whether all parties are living in the Property or not. They're simple agreements but cover off things such as who will pay for what, and what happens when someone wants to sell? Below are the key bits of information that we will need to put together a draft agreement for you.

YOUR DETAILS

Full Name

Address

Email

Contact Number

PROPERTY DETAILS AND USE

Property you are wanting to share (i.e. a house at x address, boat called y, or vehicle with registration z)

Do you already own this property?

Yes

No

What is the primary use of the property (i.e. owner 1 residence, shared holiday home, shared vehicle)

If the property is being shared between owners, how will the use be shared between owners (i.e. specific times of use, or a way to reach agreement)

If the property is a home that only one owner occupies, how is that owner paying the other owners for their occupation? (i.e. rent payments of x amount per week)

If there is anything you would like us to know about your specific use, please describe it here.

OTHER OWNERS' DETAILS (as applicable)

Owner 2 Full Name

Owner 3 Full Name

Owner 4 Full Name

OUTGOINGS AND INCOME

This section will help us to determine how you would like to divide the outgoings (i.e. rates and insurance) and the income (i.e. rent) related to the property.

We would like to divide outgoings:

Equally between parties

In proportion to each parties ownership proportion of the property

Occupying owner will pay all outgoings

Other (please specify)

We would like to divide any Income:

Equally between parties

In proportion to each parties contribution to the property

Other (please specify)

Would you like to require a joint bank account be maintained for outgoings and income to be paid to / from? (recommended)

Yes

No

IF THE PROPERTY IS SOLD

This section deals with what will happen if one party decides to sell their share in the property, or all parties decide to sell the whole of the property.

Would you like to include a minimum ownership clause (i.e. cannot sell for x years)?

Yes

No

If yes, how many years should it be for?

How will you divide any profit made on sale?

Equally

In proportion to each parties contribution tot he property

Other (please specify)

How will you divide any losses?

Equally

In proportion to each parties contribution tot he property

Other (please specify)

Thank you for providing the key information we need for our initial draft. We will be in touch with you once we have drafted your Agreement with any specific questions we may have.

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Note: Please fill out the fields marked with an asterisk.

Arrowsmith Law Limited

T. 03 928 8165 | Email (General): office@alaw.nz | Email (Notices): notices@alaw.nz | F. 03 928 8166

Ashburton Office | 163 West Street | PO Box 270 | Ashburton| 7700

Christchurch Office | 9/21 Humphreys Drive | PO Box 41024 | Ferrymead | 8023

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