The Co-Ownership Agreement is essential when two or more parties acquire or hold joint ownership of property or assets in Germany. This document becomes necessary in various scenarios, including family property arrangements, business partnerships, or investment consortiums. Operating under German jurisdiction, particularly the provisions of the BGB regarding joint ownership (Gemeinschaft), the agreement must address specific legal requirements while providing practical mechanisms for property management and decision-making. It typically includes detailed provisions about ownership shares, usage rights, cost allocation, transfer restrictions, and dispute resolution, all aligned with German legal principles and practice.
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1. Parties: Identification and details of all co-owners, including full legal names, addresses, and contact information
2. Background: Context of the co-ownership arrangement, including the history of the acquisition and purpose of the agreement
3. Definitions: Key terms used throughout the agreement, ensuring consistent interpretation
4. Object of Co-Ownership: Detailed description of the property or assets subject to co-ownership
5. Ownership Shares: Specification of each party's ownership percentage and the basis for this division
6. Management and Decision Making: Procedures for managing the property and making decisions, including voting rights and majority requirements
7. Rights and Obligations: Core rights and responsibilities of each co-owner, including usage rights and maintenance obligations
8. Cost Sharing: Distribution of costs related to maintenance, repairs, taxes, and other expenses
9. Transfer of Ownership Rights: Rules and procedures for selling or transferring ownership shares, including pre-emption rights
10. Termination: Conditions and procedures for terminating the co-ownership or individual participation
11. Dispute Resolution: Procedures for resolving conflicts between co-owners
12. Governing Law: Confirmation of German law application and jurisdiction
1. Commercial Use: Specific provisions for commercial property use, including business operations and profit sharing
2. Residential Use: Specific provisions for residential property use, including occupancy rights and rental arrangements
3. Property Management Company: Provisions for engaging and instructing external property managers
4. Insurance: Detailed insurance requirements and cost allocation
5. Environmental Responsibilities: Specific provisions for environmental compliance and responsibilities
6. Refinancing: Procedures and requirements for refinancing the property
7. Development Rights: Provisions regarding property development or renovation rights
8. Right of First Refusal: Detailed procedures for implementing pre-emptive rights
9. Succession Planning: Provisions for handling ownership transition in case of death or incapacity
1. Property Description: Detailed technical description of the property, including plans and cadastral information
2. Ownership Structure: Detailed breakdown of ownership shares and any special rights
3. Cost Allocation Key: Detailed methodology for calculating and allocating shared costs
4. Management Rules: Detailed procedures for day-to-day management and decision-making
5. Maintenance Schedule: Planned maintenance activities and responsibilities
6. Usage Rules: Specific rules for property usage and access
7. Contact Details: Complete contact information for all parties and relevant service providers
8. Land Register Excerpts: Copies of relevant land register entries (Grundbuchauszug)
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Investment Management
Family Business
Commercial Property
Residential Property
Agriculture
Hospitality
Manufacturing
Retail
Relevant Teams
Legal
Real Estate
Asset Management
Finance
Operations
Risk & Compliance
Property Management
Business Development
Investment
Corporate Affairs
Relevant Roles
Property Manager
Real Estate Lawyer
Investment Manager
Asset Manager
Business Development Manager
Legal Counsel
Corporate Lawyer
Finance Director
Operations Manager
Risk Manager
Compliance Officer
Portfolio Manager
Managing Director
Property Developer
Facility Manager
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