Although it is theoretically possible to bring together a whole group of buyers, to have them prepare a single offer as a group, and then to give them the time and flexibility to create their own tenant in a common agreement before it is concluded (while the property is kept out of the market), this approach fails much more often than success and consumes a huge effort and time. , even if successful. Most sellers and brokers find it much easier and more productive to accept individual offers from potential buyers in each group, even if they intend to simultaneously close the sale to all buyers at the same time. (Note that closing the sale is also possible one after the other, as explained below). In a common tenancy agreement, all owners have the same right to own the entire property; But that doesn`t mean everything is always the same. You may own 70% of the property, while your partner owns 30% – either you can use the entire property, but if you have agreed to sell the property or your part, you would be entitled to most of the proceeds. Even if you are not interested in selling the property soon, it is still important to have your agreement in writing. If there is a disagreement between you and your partner, you want everything to be written in advance, not to mention the fact that real estate transactions must be written to be legally binding. All these details can be important and you can write them with a tenant in a common agreement.
A common mistake in creating an ICT agreement is the postponement of solving difficult problems (“we won`t do it until later”) in order to avoid awkward confrontations and to get a transaction. The problem is that the problems that seem the most difficult to solve are usually the most likely to lead to an argument. Another common mistake is that everything works exactly as expected (especially regarding when people will occupy the property, if and when they will sell it). Housing plans are closely linked to employment, health and housing situations, which change regularly in unexpected ways. A good tic agreement is tenable enough to accommodate dramatic changes in occupancy and ownership plans without being renegotiated, and certainly should never lead an owner to sell his home due to changes in the life of another owner. This article focuses on ICSAs, which resemble condominiums or other real estate subdivisions and are most often incorporated for multi-unit residential buildings such as public buildings, townhouses and detached houses on the same lot. Each owner has the exclusive right to use an apartment or house or to stock up on a leash. This type of ICT can also be used for office buildings, storage facilities or other commercial premises in which each owner has the exclusive right to use a specific offer or space or generate revenue, for undedeminated land for land where each owner can build and occupy a home on a given space. , and even for a unique common house where each owner has their own bedroom, but the kitchen, living room and other areas are shared.