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Joint House Ownership Agreement


Overview
The Joint House Ownership Agreement is used by two people who will together buy a house as their residence.  
The agreement includes provisions regarding payment of the mortgage and other expenses, maintenance responsibilities and the sale of the house.

When You Need It
-Any agreement involving an interest in real estate must be in writing to be enforceable, including an agreement to jointly own a home.  
-Negotiating this agreement will help the parties focus on their respective responsibilities and the commitment necessary to make the experience enjoyable.

Getting Started
-Review this Joint Ownership of House Agreement carefully to understand the "business" issues that must be negotiated.  
-Protect your interests by getting the agreement in writing before you and your partner purchase your house.  
-Make sure the deed reflects title as is required according to the agreement.  
-Remember that this contract is between only the two owners.  
-The seller of the home, real estate agents, mortgage lenders and others will also have their own required contracts and will disregard the contract between the buyers unless it is specifically made a part of the purchase agreement.

When to Review and Revise 
-If the conditions of home ownership have changed since you originally negotiated and signed the Agreement.
-If one of the owners wants to sell their ownership interest in the property.
-If any disputes occur between the owners regarding ownership of the property.