Real Estate Co-ownership Agreements
Real Estate Co-ownership Agreements Minimize Disputes & Partition Actions
Agreement Among Co-owners of Real Estate
We highly recommend that if you are purchasing real estate with other people as co-owners (whether they are business partners, friends, relatives, etc.) that you seriously consider entering into a real estate co-ownership agreement. We make the same recommendation, if you and other family members inherit real estate, and are not planning on immediately selling the property.
The terms of a co-ownership agreement should clearly define each co-owner’s legal rights, including the right to occupy or use all or a portion of the property, the right to receive a portion of the property’s rental income, etc.
The co-ownership agreement should also clearly define each co-owner’s obligations and responsibilities, including financial obligations to pay a portion of the property’s carrying costs, such as real estate tax, insurance, utilities, maintenance and repairs.
The co-ownership agreement might even provide a blueprint for the resolution of disputes among the co-owners.
We Draft and Negotiate Real Estate Co-ownership Agreements
Our experienced New York Partition Lawyer and Contracts Lawyer negotiates and drafts Real Estate Co-ownership Agreements to protect your legal rights.
We believe that a carefully negotiated and drafted Real Estate Co-ownership Agreement is the best way to protect your legal rights, and to minimize the possibility of a dispute resulting in a partition action. As a well experienced New York contracts attorney and partition lawyer, we provide top tier legal representation for co-owners of New York real estate, including negotiating and drafting Real Estate Co-ownership Agreements.
You will be impressed with our contract drafting and negotiation skills, and overall quality of legal representation, as well as the personal attention you will receive from Michael W. Goldstein.
We thoroughly and meticulously draft contract terms with the goal of leaving nothing to chance. While it may be impossible to anticipate every possible scenario that could conceivably arise in the future, we believe that our approach affords our clients maximum protection against both foreseeable situations, as well as unanticipated or unlikely events, that may result in future disputes, which could escalate into a partition action.
If the co-owners of New York real property entered into an enforceable agreement regarding their ownership rights and responsibilities, if a dispute arises which escalates into a partition action or other litigation, the court will likely enforce the terms of the co-ownership agreement.
New York Contracts Lawyer Represents Clients Throughout New York State
Although our office is located in Manhattan, we represent clients in Real Estate Co-ownership Agreements in all counties of the City of New York, as well as Nassau, Suffolk, Westchester, Rockland, and upstate New York. If it is inconvenient for a client to travel to our office, alternate arrangements can be made.
Law Offices of Michael W. Goldstein
NY Real Estate Co-Ownership Agreements Lawyer
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