AL1711
Apr 2, 2009, 07:38 AM
I along with 4 family members purchase a property in Florida. Each of us are included on the deed. The property is held in joint tenancy in common.
We would like to establish a "partnership agreement" between us. We are all equally invested, however we would like to outline the "rules" for usage of this property. This will be a vacation place for each of us and not used as a rental property. Can we have a separate agreement which would be signed by each of us, witnessed, notarized? And, if so will this agreement hold up in a court of law or will the deed the ruling document should one of the owners not abide by "rules".
We would like to establish a "partnership agreement" between us. We are all equally invested, however we would like to outline the "rules" for usage of this property. This will be a vacation place for each of us and not used as a rental property. Can we have a separate agreement which would be signed by each of us, witnessed, notarized? And, if so will this agreement hold up in a court of law or will the deed the ruling document should one of the owners not abide by "rules".