PROPERTY SHARING AGREEMENT

This Agreement is made on [Date] between the following parties:

[Full Name], residing at [Address]
[Full Name], residing at [Address]
[Full Name], residing at [Address]

(Collectively referred to as "the Co-Owners")

1. PROPERTY DETAILS

The Co-Owners agree to jointly own the property located at [Property Address], including any land, buildings, and associated fixtures ("the Property").

2. OWNERSHIP STRUCTURE

Each Co-Owner shall hold the following ownership interest in the Property:

[Name] - [Percentage]%
[Name] - [Percentage]%
[Name] - [Percentage]%

Ownership is held as [Joint Tenants / Tenants in Common], meaning [Explain how ownership is structured and what happens in case of death of an owner].

3. FINANCIAL CONTRIBUTIONS

Each Co-Owner agrees to contribute to the purchase and ongoing costs of the Property as follows:

3.1 Initial Contributions

[Name] - NZ$[Amount]
[Name] - NZ$[Amount]
[Name] - NZ$[Amount]

3.2 Ongoing Costs

All Co-Owners shall contribute to mortgage payments, property taxes, utilities, maintenance, and other shared expenses in proportion to their ownership interest unless otherwise agreed.

4. USE AND OCCUPATION

Each Co-Owner shall have the right to occupy and use the Property [equally / as per agreed schedule].
If any Co-Owner rents out their share or any part of the Property, the terms must be agreed upon by all Co-Owners in writing.

5. DECISION-MAKING

Decisions regarding significant matters (e.g., selling, renting, major renovations) shall be made by [unanimous agreement / majority vote of Co-Owners].

6. EXIT AND SALE OF SHARES

A Co-Owner wishing to sell their share must first offer it to the other Co-Owners at a fair market value.
If no Co-Owner buys the share, it may be sold to a third party, subject to [right of first refusal / approval by other Co-Owners].
If the entire Property is sold, proceeds shall be distributed in proportion to ownership interests after deducting any outstanding expenses.

7. DISPUTE RESOLUTION

Any disputes shall first be resolved through mediation, and if unresolved, referred to arbitration or legal proceedings as a last resort.

8. GENERAL PROVISIONS

This Agreement constitutes the entire agreement between the Co-Owners and may only be amended in writing.
Each Co-Owner shall take reasonable steps to ensure the fair and cooperative use of the Property.
This Agreement shall be binding on the Co-Owners and their heirs, successors, or assigns.

9. SIGNATURES

By signing below, the Co-Owners acknowledge and agree to the terms outlined in this Agreement.

Signed:

[Name] ___________________________ Date: ______________

LandMatch