Contract for the constitution of a joint ownership
What is a contract for the constitution of a joint ownership?
A contract for the constitution of a joint ownership is a legal agreement between two or more people to share and jointly manage certain assets. It does not create a separate legal entity and each member is responsible for the debts and obligations of the community. The contract establishes rules about ownership, management, distribution of profits and losses, entry and exit of members, and dissolution of the community.
When to use this contract?
The contract for the constitution of a joint ownership is used when two or more people wish to come together to share and jointly manage certain property or assets. It is used in situations such as family businesses, joint investments, joint ownership, and collaborative projects. The contract establishes the rules for the administration of the assets, the distribution of benefits and the way to enter or leave the community. Although its use is optional, it provides security and establishes clear agreements between the parties involved.
Essential content
- Identity of the community members.
- Name of the community.
- Community address
- Term of duration.
- Administration of the Community of Goods.
- Contributions of each community member.
- Percentage of participation in profits and losses of each community member.
- Jurisdiction and applicable law clause.
Necessary information
It is important to emphasize that the abbreviation C.O.P. must be included in the name of the community.
Applicable law
In general, it will be the one established in articles 392 and following of the Civil Code.
Related concepts
How much does it cost to make this contract with LexDoka?
Currently, we do not have an automated model for this contract. However, if you are interested, please let us know through this contact form, and we will take it into account to develop it and notify you when it is available. If you need it urgently, LexDoka offers a personalized contract automation service where we will work together with you to see what your needs are and develop it exclusively for you in the shortest possible time. If you are interested contact us.