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Obtaining the right fractional documentation |
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yours2share strongly recommends that any sharing agreement is recorded in writing and that all sharers take independent legal advice before signing any sharing agreement. This is standard practice for purchase of real property and is also essential for the purchase of other high value assets. Aside from the legal requirement involved, it simply ensures that each party knows where the other stands and helps to avoid disputes in the future. To help you we offer a number of template sharing agreements. These are professionally drawn contracts written by Net Lawman, an online provider of legal documents and legal advice. Our list of documents is growing steadily. Here are some useful links: |
| About the documents |
If you need a bespoke document, Net Lawman can draft this for you, for a cost that will be a lot less than asking an independent professional legal advisor to draft a new document from scratch. Simply send them a message. If the sharing agreement is for fractional ownership or joint ownership of real property, then the transfer of ownership (conveyancing) must be done by a solicitor. But you can still save money by using the Net Lawman document for the sharing agreement. It is also important that you get independent advice at an early stage if you are considering entering into a sharing agreement for an asset which is not based in your home country. The laws covering ownership and renting can vary substantially from country to country. It is possible that some sharing agreements are not possible or are very risky in some countries. yours2share cannot give guidance on the the legal framework for sharing in any country other than England and Wales, Net Lawman can advise in certain countries. |
| Version 1.0 November 2007 |
