The parties are currently parties to the property management contract (the “Management Contract”) (or become parties at the same time). (the “Manager”) is the sole manager of the property acting on behalf of the parties for the management, operation, maintenance and leasing of the property for the duration of the Management Agreement. The notion of ownership agreement is comprehensive and can be classified among many classifications. In this sense, you will find here a fundamental overview of a general property agreement covering all the categories that flow from it. We will answer the following question: what do you include in this agreement? And what is the meaning of each section? Read the following steps to find out: Use our co-ownership agreement to quickly and easily create a contract outlining the rights and obligations of both parties. If you`re wondering who the richest real estate tycoon in America is, it`s Donald Bren. This man began to develop his property in 1977 in partnership with other investors. Over time, Bren bought back all of his partners` shares and became the sole shareholder of the Irvine Company. According to Forbes, Bren owns a total of 115 million square feet of properties in Southern California.
Of course, this rich man did not succeed in all this without using a property agreement. Everything had to be documented, otherwise he would not be entitled to such a heritage. Click here for an example of a co-ownership agreement developed by Boston real estate attorney Kathleen M. O`Donnell to address the fundamental issues of common ownership. The agreement is mentioned in O`Donnell`s article “Condominium Agreements for Multigenerational Households: An Approach,” published in the May 2014 issue of the ElderLaw Report.