Land Ownership Agreements

 A land ownership agreement is a contract between two or more persons who own a piece of property together. The agreement typically describes each party’s

·      right to use the land

·      obligation to pay taxes

·      responsibilities for maintenance of the property

·      entitlement to profits

·      transfer rights in the property

A land ownership agreement can outline the rights and responsibilities of owners in an effort to avoid conflict and increase the enjoyment of ownership. An ownership agreement can be a very good way for landowners to establish a workable solution for owning land together and can be used in combination with the forms of direct ownership that result in multiple owners. It can be a legal document drafted by an attorney or something simple that documents how a property is to be used as well as expectations for sharing costs and benefits in order to avoid disagreements over time.