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Co Owner House Agreement
"Need a Co-Owner House Agreement for a three-way property purchase in Singapore with my siblings, where we'll each own equal shares but only one of us will live in the property while paying rent to the others, starting from March 2025."
1. Parties: Details and identification of all co-owners
2. Background: Context of the co-ownership arrangement and property details
3. Definitions: Key terms used throughout the agreement
4. Ownership Structure: Specification of ownership shares and type of co-ownership
5. Financial Obligations: Distribution of costs, mortgage payments, and other expenses
6. Property Usage: Rights and restrictions regarding property use
7. Decision Making: Process for making property-related decisions
8. Maintenance and Repairs: Responsibilities for property upkeep
9. Dispute Resolution: Process for resolving conflicts between co-owners
1. Mortgage Arrangements: Details of joint mortgage responsibilities when property is mortgaged
2. Rental Income: Distribution of rental income and management of tenancies when property may be rented out
3. Buy-out Provisions: Process for one owner buying others' shares when owners want pre-agreed buy-out terms
4. Religious Requirements: Specific provisions for religious considerations when religious law applies (e.g., Muslim law)
1. Schedule 1 - Property Details: Complete legal description of the property
2. Schedule 2 - Financial Schedule: Breakdown of financial contributions and ownership percentages
3. Schedule 3 - Maintenance Schedule: Detailed maintenance responsibilities and schedules
4. Schedule 4 - Insurance Requirements: Required insurance coverage details
5. Schedule 5 - House Rules: Specific rules for property use and maintenance
6. Schedule 6 - Mortgage Details: Copy of mortgage agreement and payment schedule
Authors
Property
Co-Owners
Ownership Share
Common Areas
Completion Date
Effective Date
Encumbrances
Financial Obligations
Force Majeure
Governing Law
Interest
Major Decisions
Maintenance Costs
Mortgage
Mortgagee
Net Proceeds
Occupancy Rights
Operating Expenses
Party/Parties
Property Manager
Property Tax
Purchase Price
Qualifying Certificate
Relevant Authority
Sale Proceeds
Singapore Dollar/SGD
Stamp Duty
Term
Title Deed
Transfer
Utilities
Valuation
Working Day
Ownership Structure
Financial Contributions
Property Usage Rights
Occupancy Rights
Decision Making
Maintenance and Repairs
Insurance
Property Management
Utilities and Expenses
Transfer Restrictions
Right of First Refusal
Sale of Property
Buy-out Provisions
Mortgage Obligations
Death or Incapacity
Default and Remedies
Dispute Resolution
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Governing Law
Termination
Amendments
Indemnification
Representations and Warranties
Further Assurance
Costs and Expenses
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