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.