# EXAMPLE: JOINT OWNERSHIP AGREEMENT
Date: 7 June 2029
Parties: Nadia Patel and Marcus Reed
## 1. Parties and subject matter
Nadia Patel and Marcus Reed acquire 15 Linton Road, Cambridge CB1 7QW, title CB445566, as registered proprietors on 7 June 2029. This agreement records their beneficial ownership and is not a substitute for the transfer, declaration of trust, lender consent or Land Registry forms.
## 2. Financial terms
Nadia contributes £96,000 and Marcus £64,000 to the £320,000 purchase, with a £160,000 mortgage in both names. Their initial beneficial shares are 40% and 60% respectively, subject to the adjustment formula below and any overriding law.
## 3. Use and obligations
Mortgage, insurance, council tax, utilities and agreed repairs are paid 40:60. A party making an approved capital improvement receives credit for the evidenced cost before net sale proceeds are divided; ordinary maintenance earns no separate credit.
## 4. Consent and management
Both may occupy the house as their home. Decisions about mortgage, structural works, letting, refinancing or sale require both written consent; urgent safety work may be instructed by either and reported within 48 hours.
## 5. Ending and remedies
If one wants to leave, that party gives three months' notice and obtains an independent valuation from a jointly appointed RICS valuer. The other has 30 days to elect to buy at market value less the transferring share of mortgage and agreed sale costs.
## 6. Legal reservations
If no buy-out completes in 90 days, the parties appoint an agent to market the property. Net proceeds repay mortgage, sale costs and approved credits, then divide by the recorded beneficial shares. No transfer occurs without lender consent and legal completion.
## 7. Signatures
The parties will execute any declaration of trust or transfer required, consider SDLT, CGT, registration and insolvency consequences, and review wills and insurance. Disputes go to mediation before court where practical; England and Wales law applies.