Document background
The Tenants in Common Co-Ownership Agreement is essential when multiple parties wish to establish shared ownership of property in the Philippines while maintaining individual, undivided interests. This arrangement is commonly used for both residential and commercial properties, allowing co-owners to hold different percentage shares and transfer their interests independently. The document ensures compliance with the Civil Code of the Philippines and local property laws while providing a clear framework for property management, expense sharing, and decision-making processes. It's particularly valuable for family property arrangements, investment partnerships, or business collaborations where parties want to maintain separate ownership interests while sharing property rights and responsibilities. The agreement includes crucial provisions for dispute resolution, property maintenance, and potential future sales or transfers, making it a fundamental tool for protecting all co-owners' interests.
