When you have your mortgage approval, you will be sent the legal agreement to read. It is imperative that you read it over and are comfortable with it. This also give you an opportunity to run it by the lawyer if you have any questions or concerns.
Check out the Beacon Law video page for more information Click Here
Beacon Law provides an article on co-ownership agreements Click here
The following list is the Table of Contents for the co-ownership agreements.
1. Co-ownership details
2. Co-ownership and occupancy
3. Joint account
4. Use of property
5. Maintenance and repair
6. Capital improvements
7. Sale of the property
10. General provisions
Schedule “A” – Expenses
Schedule “B” – Extra agreements
Once all your questions and concerns about the legal agreements have been addressed, the next step in the process is to meet with your Shared Home Ownership partner to ensure compatibility!