Anyone got a copy or suggestions for joint property ownership paperwork?

[brisbane 04]

Hi,
My wife and I are thinking of investing in a property with another couple. We are wondering if anyone's has any paperwork or suggestions to make as how to set up a partnership that is equal for all parties. Ie if one couple wants to sell there share etc. We would like it to be legally binding. Thanks in advance.

 

[Jake D]

Have a look at this website.
I haven't used it, but they do seem affordable and have some helpful informaiton on there.

http://www.podproperty.com.au/

 

[RPI]

Partnership of Entities
Unit Trust
Straight partnership

are some possibilities. You want a strong agreement behind it to govern the relationship and the entity is more about tax planning, asset protection and ease of transfer.

 

[marg4000]

It is far easier to set up these structures than to wind them up.

As well as looking at how you will go about the purchase, at the same time have a very clear exit plan as to how the joint venture will be wound up. At some point it is very likely that one couple will decide they want their money back, and this process should be detailed legally at the outset.
Marg

 

[brisbane 04]

Thanks for your responses