From the Attorney’s Desk mailto:jason@eckerdawllc.com How to Address Potential Co-Ownership Issues The deed to a property is a legal document that can be instrumental in addressing possible legal and other issues in a co-ownership scenario. It names the coowners and how they hold title to the property, but it might not address more complex co-ownership issues, such as responsibilities for maintenance costs and how decisions about the property will be made. A deed, combined with a more comprehensive coownership agreement, should be written to mitigate foreseeable conflicts and protect your interests. The agreement should also be reviewed frequently and updated whenever a co-owner’s circumstances change. After a deed has been recorded, it cannot be easily changed. To change the contents of the original deed, it is necessary to prepare and record a new deed, which requires the consent of all parties involved. Get in touch to discuss co-ownership. From the Attorney’s Desk mailto:jason@eckerdawllc.com How to Address Potential Co-Ownership Issues The deed to a property is a legal document that can be instrumental in addressing possible legal and other issues in a co-ownership scenario. It names the coowners and how they hold title to the property, but it might not address more complex co-ownership issues, such as responsibilities for maintenance costs and how decisions about the property will be made. A deed, combined with a more comprehensive coownership agreement, should be written to mitigate foreseeable conflicts and protect your interests. The agreement should also be reviewed frequently and updated whenever a co-owner’s circumstances change. After a deed has been recorded, it cannot be easily changed. To change the contents of the original deed, it is necessary to prepare and record a new deed, which requires the consent of all parties involved. Get in touch to discuss co-ownership.
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