However, this type of provision is not limited to real estate, but also applies to other personal real estate such as works of art, antiques, boats, vehicles, shares and more. It is the agreement that establishes and controls the relationship between the co-owners in the event of a subsequent conflict. Note that a person`s ownership gives the right to own valuable property under the protection of the law. This agreement can be used for any purchase or sale of property as long as the construction of the house is completed before the closing date of the contract. After seeing House Hunters on HGTV for years, it`s finally your turn to find the perfect home. Or you bought a dilapidated house, put your money and sweat into the repair and you are now ready to put it up for sale. Either way, once you`ve found the perfect home or buyer, make sure you have a written agreement to make sure it goes smoothly to the conclusion, and you`ll know what to do when it comes on the way to hiccups. The list of general provisions includes the applicable law, the settlement of disputes, if any, if any, the legal or other costs to conclude the entire contract. They are included in the last section of the agreement because they do not seem to correspond between other parties. This is why they are also called „different“ provisions. Even if they are, they are still needed to fill what is missing from the treaty.
Except as otherwise provided in this Agreement, the net profits of the property shall be distributed and distributed to the parties in proportion to their respective interests. All losses and liabilities incurred in the course of the activity must be borne and paid by the parties in the same proportion. A co-owner should not transfer a property without the authorization of his co-owners. Even if a potential buyer of a co-owner wishes to conclude the contract, he/she must follow and respect the conditions. If a co-owner wishes to leave his position in the contract, he should give the remaining co-owners the interest corresponding to the initial value he bought. If the co-owner wishing to terminate the contract does not agree, he/she may have an interest in selling to a bona foi buyer. These conditions will guarantee all co-owners of interest in their real estate. If you want to succeed in your real estate efforts, you need to start with the basics. Success doesn`t happen in the blink of an eye….