Document background
A Tenants in Common Agreement is essential when multiple parties wish to share ownership of property in Pakistan while maintaining distinct, transferable interests. This document is commonly used in situations where family members, business partners, or investors want to co-own property while retaining individual control over their respective shares. The agreement must comply with Pakistani property law, including the Transfer of Property Act 1882, Registration Act 1908, and relevant Islamic law provisions where applicable. It typically includes detailed provisions about ownership percentages, property management, expense sharing, decision-making processes, and protocols for selling or transferring shares. The document is particularly important in Pakistan's property market where co-ownership arrangements are common but need careful structuring to avoid future disputes and ensure legal compliance.
