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Buy Sell Agreement Between Co Owners Of Real Property
1. Parties: Identification of all co-owners and their current ownership percentages
2. Background: Brief description of the property, how the co-ownership was established, and the purpose of the agreement
3. Definitions: Key terms used throughout the agreement including Property, Fair Market Value, Transfer Event, etc.
4. Property Description: Detailed description of the real property including address, land registry details, and current usage
5. Ownership Structure: Current ownership percentages and any specific rights or obligations attached to each owner's share
6. Transfer Events: Circumstances that trigger the buy-sell provisions (death, disability, divorce, voluntary sale, etc.)
7. Valuation Method: Process for determining the property's value when a transfer event occurs
8. Purchase Price and Payment Terms: How the purchase price is calculated and the terms of payment
9. Right of First Refusal: Process and timeframes for existing co-owners to purchase another owner's share
10. Transfer Procedure: Step-by-step process for executing the transfer of ownership
11. Costs and Taxes: Allocation of transfer costs, registration fees, and tax obligations
12. Dispute Resolution: Procedures for resolving disagreements between co-owners
13. Governing Law: Confirmation of Danish law application and jurisdiction
14. Signatures: Execution block for all parties
1. Life Insurance Provisions: Required when co-owners want to fund potential buyouts through life insurance policies
2. Mortgage and Financing: Include when there are existing mortgages or specific financing requirements for buyouts
3. Property Management: Include when co-owners want to establish rules for day-to-day management and maintenance
4. Rental Income Distribution: Required when the property generates rental income that needs to be distributed
5. Exit Strategy: Include when parties want to establish specific procedures for complete property sale or dissolution of co-ownership
6. Third Party Sales: Include when owners want to establish procedures for selling to external parties
7. Environmental Provisions: Include when the property has specific environmental concerns or requirements
1. Property Details: Detailed property description, including land registry information, boundaries, and included fixtures
2. Current Ownership Structure: Detailed breakdown of current ownership shares and any special rights
3. Valuation Framework: Specific methodology and procedures for property valuation
4. Insurance Requirements: Details of required insurance coverage and policy specifications
5. Existing Encumbrances: List of current mortgages, liens, or other encumbrances on the property
6. Property Management Rules: Detailed rules and procedures for property management and maintenance
7. Transfer Documentation: Templates for notices, transfer documents, and other required forms
Authors
Applicable Law
Appraiser
Business Day
Buy-Sell Notice
Closing
Closing Date
Co-owner
Danish Land Registry
Deed of Transfer
Default
Encumbrance
Fair Market Value
Force Majeure
Initial Valuation
Insolvency Event
Land Registration Fee
Market Value
Mortgage
Notice
Offer Notice
Offered Interest
Option Period
Ownership Interest
Ownership Share
Parties
Property
Property Rights
Purchase Notice
Purchase Price
Qualified Appraiser
Real Property
Registration Requirements
Right of First Refusal
Sale Interest
Selling Co-owner
Transfer
Transfer Event
Transfer Notice
Trigger Event
Valuation Date
Valuation Method
Valuation Period
Voluntary Transfer
Definitions
Property Description
Ownership Structure
Transfer Events
Right of First Refusal
Valuation
Purchase Price
Payment Terms
Transfer Procedure
Registration Requirements
Representations and Warranties
Covenants
Property Management
Costs and Expenses
Tax Provisions
Insurance
Default
Remedies
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Amendment
Severability
Entire Agreement
Counterparts
Third Party Rights
Confidentiality
Term and Termination
Due Diligence
Environmental Compliance
Mortgage and Financing
Indemnification
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