SHARED EQUITY AGREEMENT

This Shared Equity Agreement (hereinafter referred to as the “Agreement”) is made on [INSERT DATE ON WHICH THE AGREEMENT COMES INTO FORCE] (hereinafter referred to as the “Effective Date”) between:

[INSERT NAME OF THE COMPANY], having registered office at [INSERT ADDRESS OF THE COMPANY] (hereinafter referred to as the “Occupant” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); and 

[INSERT NAME OF THE COMPANY], having registered office at [INSERT ADDRESS OF THE COMPANY] (hereinafter referred to as the “Co-owner” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns).

The “Occupant” and the “Co-Owner” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS

1. The Occupant and Co-owner desires to co-own the property located at [INSERT ADDRESS OF THE PROPERTY] and desire to define their respective rights, obligations and exit strategies in the event of changing circumstances.
2. The parties wish to establish the terms and conditions governing their shared ownership, contributions and responsibilities for the shared property.
3. The parties are duly authorized and have the capacity to enter into this agreement.
4. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. DEFINITIONS
   1. “Property” refers to the real estate property located at [INSERT ADDRESS OF THE PROPERTY].
   2. “Equity Ownership Share refers to the percentage of ownership interest held by each party in the property.
   3. “Initial Contribution” refers to the contribution made by each party towards the acquisition of the property
   4. “Confidential Information" means any non-public information, data, documentation, trade secrets, know-how, or any other information disclosed by one party (Owner) to the other party (Co-Owner) in connection with this agreement , whether in written, oral, electronic, or any other form, and identified as confidential or which the Parties should reasonably understand to be confidential.
2. OWNERSHIP SHARES
   1. The Parties shall enter into this agreement with the following initial ownership shares in the property;
      1. [INSERT OCCUPANT ’S PERCENTAGE % OF OWNERSHIP SHARE]
      2. [INSERT CO-OWNER PERCENTAGE % OF OWNERSHIP SHARE]
   2. If any Group or any other party wishes to own the co-ownership shares, the following conditions shall apply to the Group or the third-party; (i) The Group shall be referred to as co-owner, (ii) The Group shall have the same obligations and responsibilities as someone associated with the Co-ownership Share.
   3. Any Group which is a Co-Owner, and any entity which is a Party, must (i) disclose to all Parties the full legal names of each person or entity with any ownership interest in the Group or entity, (ii) immediately provide Notice to all Parties each time there is an addition, subtraction or other change to the list of full legal names of each person or entity with any ownership interest in the Group or entity, and (iii) upon Notice so requesting from any Party, obtain the signature of any such person or entity on a document guaranteeing the obligations of such Group or entity under the terms of this Agreement.
3. USE OF THE PROPERTY
   1. The Occupant shall have exclusive right to occupy the Property and shall pay the associated expenses related to the property such as mortgage, property tax and any other expense related to the property after purchase. The Occupant agrees to use the property only for his\her own residential purpose and shall not rent it out.
   2. The Co-owner agrees to co-own the property for a term [INSERT TERM FOR USE OF THE PROPERTY] years, unless terminated earlier as per the agreed terms mentioned in this agreement, and shall be liable for any repairs required after the purchase of the ownership share, the Co-owner shall not pay any other expense associated with the property, except for the minor repairs.
   3. The Occupant and Co-owner shall not have the right to sell the property to any third-person or to any relative, guests without the prior permission of each other.
4. FINANCIAL CONTRIBUTION
   1. The Occupant contributed [INSERT AMOUNT CONTRIBUTED BY THE OCCUPANT] in [INSERT MODE OF PAYMENT SUCH AS CASH OR CHEQUE] towards the purchase or any other expenses completed, prior to the date of this agreement.
   2. The Co-owner contributed [INSERT AMOUNT CONTRIBUTED BY THE CO OWNER] in [INSERT MODE OF PAYMENT SUCH AS CASH OR CHEQUE] towards the purchase or any other expenses completed, prior to the date of this agreement.
   3. The Occupant agrees to pay all the associated expenses with the property such as mortgage, property taxes, and maintenance costs. Upon Notice, the Occupant shall mail a copy of all these expenses to the Co-owner.
5. MAINTENANCE AND REPAIRS
   1. The Parties shall divide the responsibilities for property maintenance, repair and upkeep in proportion to their ownership as specified in this agreement.
   2. The Occupant shall keep the Property free from debris and in a neat, clean and sanitary condition at all times, and shall regularly inspect the Property for damage, deterioration and malfunction.
   3. The co-owner shall be liable for all the other repairs, damages and routine maintenance.
   4. The Parties agree to conduct regular inspections of the Property to assess its condition and identify maintenance or repair needs. These inspections shall be carried out on a schedule established by mutual agreement.
   5. In the case of urgent or emergency repairs that require immediate attention to prevent damage to the Property, the Parties shall promptly share the responsibility and costs. The Party who initiates such repairs shall notify the other Parties and seek their consent whenever possible.
   6. All maintenance and repair expenses, invoices, and receipts shall be documented and retained by the Parties for transparency and record-keeping purposes.
   7. The Parties shall grant one another reasonable access to the Property to perform maintenance, inspections, or repairs, provided prior notice is given, except in the case of emergencies.
   8. Each Party shall be liable for the negligence of their own actions in connection with maintenance and repairs. However, shared maintenance costs and responsibilities shall be upheld regardless of liability.
6. INSURANCE
   1. The Parties collectively agree to maintain appropriate property insurance coverage on the Property. The insurance policy shall include coverage for potential perils, including fire, theft, vandalism, and other relevant risks. The Parties shall ensure that the Property is insured for an amount at least equal to its current market value.
   2. The Parties shall distribute the responsibility for insurance premiums in proportion to their ownership shares, as defined in this Agreement. Each Party is responsible for paying their respective share of the premiums in a timely manner.
   3. Each Party shall provide proof of insurance coverage to the others on an annual basis, confirming that the insurance policy remains in effect and specifying the coverage details.
   4. The Parties may also consider obtaining liability insurance to protect against any claims or liabilities related to the Property. Decisions regarding liability insurance shall be made jointly, and the costs shall be divided in accordance with ownership shares.
   5. If any Party fails to maintain their share of the insurance coverage or does not pay their premiums, the other Parties shall have the right to purchase insurance on their behalf and seek reimbursement for the associated costs.
7. BUYOUT AND SALE
   1. In the event that any Party wishes to sell or transfer their ownership share in the Property, they shall first offer it to the other Parties in proportion to their ownership shares. This provision shall grant each Party a right of first refusal to purchase the ownership share of the selling Party. The selling Party shall provide written notice to the other Parties, including the proposed sale price and terms.
   2. The other Parties shall have a specific period, as agreed upon by all Parties, to accept or decline the offer. If no response is received within this period, it shall be considered a refusal. If any Party accepts the offer, the sale shall proceed according to the terms specified in the offer.
   3. If none of the other Parties accepts the offer during the specified period, the selling Party may proceed to sell their ownership share to a third party. The selling Party shall inform the other Parties of the terms and conditions of the third-party sale.
   4. The sale price for the ownership share shall be determined based on fair market value, The fair market value may be determined through a mutually agreed-upon appraisal or valuation method.
   5. In the case of a sale or transfer to a third party, all Parties shall cooperate in facilitating the closing process, including the transfer of ownership, title, and any necessary legal documents.
   6. No sale or transfer of the Property shall proceed without the written consent of all Parties, unless the Party invoking this provision has the right to do so in accordance with other sections of this Agreement.
8. VOTING
   1. Co-Owner Meetings may be called by any Co-Owner at any reasonable weekend or evening time provided he/she delivers Notice and an agenda to one (1) representative of the other Co-Owner at least fourteen (14) calendar days before the Co-Owner Meeting. Matters not described on an agenda may not be decided at the Co-Owner Meeting unless the Co-Owner Meeting is attended by at least one (1) representative of each Co-Owner. No decision shall be considered binding unless it is recorded in written minutes signed by each person attending. No Party shall unreasonably refuse to sign minutes which accurately describe the meeting.
   2. Each Co-Owner shall have one (1) vote of equal weight. If a vote is cast on behalf of a Co-Owner by one of the Parties comprising the Co-Owner, it shall be conclusively presumed for all purposes that the voting Party was acting with the authority and consent of all other Parties comprising that Co-Owner. Fractional votes are not allowed. If the Parties comprising a Co-Owner are unable to agree how to cast their vote, they shall abstain. Parties absent at the time a duly Noticed vote is taken shall also abstain. In the event of an abstention, a matter requiring the approval of the abstaining Co-Owner shall be deemed approved, and the vote of the other Co-Owner shall control unless it directly conflicts with or invalidates a provision of this Agreement. Notwithstanding anything to the contrary in this Agreement, a Co-Owner in Default shall be deemed to have abstained on all matters.
   3. Parties may vote in person or by proxy. All proxies shall be in writing, dated, and signed by the Party. Every proxy shall be revocable and shall automatically cease upon conveyance by the Party of his/her Co-Ownership Share, death or judicially declared incompetence of the Party, or the expiration of eleven (11) months from the date of the proxy or the time specified in the proxy for expiration, not to exceed three years.
9. CONFIDENTIALITY
   1. Confidential Information shall not include any information that: (i) is or becomes generally known to the public without either Party’s breach of any obligation owed to the other Party; (ii) was independently developed by a Party without other Party's breach of any obligation owed to that Party; or (iii) is received from a third party who obtained such Confidential Information without any third party's breach of any obligation owed to the Party.
   2. During and after the term of this Agreement, Parties will hold in the strictest confidence, and take all reasonable precautions to prevent any unauthorized use or disclosure of Confidential Information, and Parties will not (i) use the Confidential Information for any purpose whatsoever other than as necessary for the performance of the Services on behalf of the other Party, or (ii)  disclose the Confidential Information to any third party without the prior written consent of an authorized representative of the other Party.
   3. Parties agrees to protect the confidentiality of the Confidential Information in the same manner that it protects the confidentiality of its own proprietary and confidential information of like kind, but in no event shall the Parties exercise less than reasonable care in protecting such Confidential Information.
   4. The Parties shall not use any confidential information directly or indirectly to procure a commercial advantage over the other Party or otherwise use any designs, ideas or concepts created by or belonging to the other Party without the express written consent of the other Party.
10. FORCE MAJEURE
    1. Neither party shall be held liable for any failure or delay in performing its obligations under this Agreement if such failure or delay is caused by events beyond the reasonable control of the affected party, including but not limited to acts of God, natural disasters (e.g., floods, earthquakes, hurricanes), war, terrorism, riots, labour strikes, governmental actions, epidemics or pandemics, power outages, or other similar events ("Force Majeure Events").The affected party shall promptly notify the other party in writing of the occurrence of a Force Majeure Event, providing reasonable details of the event, its expected duration, and the steps being taken to mitigate its impact. Failure to provide timely notice may result in the affected party forfeiting its rights under this clause. If a Force Majeure Event continues for a period exceeding [INSERT THE NUMBER OF DAYS CONSTITUTING PERIOD EXCEEDING WHICH, IF THE FORCE MAJEURE CONTINUES, EITHER PARTY MAY TERMINATE THE AGREEMENT] days, either party may terminate this Agreement upon written notice to the other party without further liability, except for obligations accrued prior to the Force Majeure Event.
11. APPLICABLE LAW
    1. This Agreement shall be governed by and constructed in accordance with the Laws, rules, orders and regulations of [INSERT COUNTRY OF APPLICABLE LAWS].
    2. The Parties shall resolve all disputes in connection with the validity or interpretation of this Agreement, unless otherwise expressly stated in the Agreement, in the following manner: 
    3. By direct negotiations between the Occupant and Co-owner. 
    4. If negotiations between the parties are unsuccessful, the matter shall be referred to the competent court sitting at [INSERT THE COURT WHICH SHALL HAVE EXCLUSIVE JURISDICTION IN CASE OF DISPUTE BETWEEN THE PARTIES] which shall have exclusive jurisdiction in all matters arising there from unless otherwise agreed between the Parties in writing.
12. NOTICES
    1. Any notice, request, demand, consent or other communication required or permitted under this Agreement shall be in writing and sent either via email on the email address as provided by the parties and shall be considered sent when the email is sent to the correct email address of the party or shall be given by personal delivery (including courier) by certified mail (confirmed by mail) addressed to the party for which it is intended at the address below and shall be deemed to be given on the day of delivery or transmission if within during normal business hours, or, if after business hours, on the next following Business Day, or if mailed by registered or certified mail, on the day which is seven (7) Business Days after such notice is mailed during normal postal conditions.  In the event of a postal disruption, any notice mailed will be deemed received on the seventh (7th) Business Day following resumption of regular postal service:
       1. If to the Occupant: [INSERT EMAIL ID OR/AND ADDRESS]
       2. If to the Co-owner: [INSERT EMAIL ID OR/AND ADDRESS]
    2. Either party may change its address/email address for notices and other communications upon notice to the other party in the manner aforesaid.
13. DISPUTE RESOLUTION
    1. The Parties shall endeavor to resolve any differences of opinion which may arise between them with respect to the provisions of this Agreement by negotiation between themselves personally or with the assistance of their attorneys and unless in the opinion of any party, acting reasonably, the matter in dispute is of such significant nature to warrant it being addressed otherwise, no party shall commence any public proceedings until the negotiations have failed to produce a resolution. In furtherance of the provisions of this paragraph, all Parties hereby agree to make themselves available on short notice and to negotiate promptly and in good faith, any matter any party may wish to negotiate.
    2. All disputes arising under this agreement shall be governed by and interpreted in accordance with the Arbitration laws of [INSERT COUNTRY/STATE OF ARBITRATION] , without regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this Agreement to Arbitration in [INSERT COUNTRY/STATE OF ARBITRATION] before a single arbitrator. The arbitrator shall be selected by mutual agreement of the parties. The venue of Arbitration proceedings shall be [INSERT NAME OF COUNTRY AND CITY WHERE ARBITRATION SHALL BE CONDUCTED] No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. The decision of the Arbitrator shall be final and binding upon the parties.
14. MISCELLANEOUS
    1. Modifications: Except as otherwise provided herein this Agreement shall not be amended or otherwise modified unless the modification or amendment is done in writing, signed and has been mutually agreed by both the parties.
    2. Language: The language of all communications between the parties pursuant to this Agreement, including notices and reports, will be the [INSERT LANGUAGE OF ALL COMMUNICATION].
    3. Severability: If any provision of this Agreement shall, to any extent, be held to be invalid or unenforceable, it shall be deemed to be separate and severable from the remaining provisions of this Agreement, which shall remain in full force and effect and be binding as though the invalid or unenforceable provision had not been included.
    4. Entire agreement: This agreement along with all the Exhibits constitutes the entire understanding and agreement of the parties with respect to its subject matter and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties. This Agreement may be executed in identical duplicate counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. 
    5. No Waiver: Any failure or delay of any Party hereto in exercising any right or privilege with respect to this Agreement shall not be construed to be a waiver or to affect the validity of any part of the Agreement and shall not retrain any of the Parties to enforce any of the provisions of the Agreement.
    6. Amendments and Assignments:  Any amendments to this Agreement shall be made, only if, both Parties agree upon such amendment in writing. This Agreement shall not be assigned by either party without the express, written consent of the other party.
    7. Headings: The headings upon the various sections are solely for convenience and reference only and shall not affect the scope, meaning, intent or interpretation of the provisions of this Agreement, nor shall such headings otherwise be given any legal effect.
15. DECLARATION
    1. Each of the parties hereto covenant and agree to execute and deliver such further and other agreements, assurances, undertakings or documents, cause such meetings to be held, resolutions passed and by-laws enacted, exercise their votes and influence and do and perform and cause to be done and performed any further and other acts and things as may be necessary or desirable in order to give full effect to this Agreement.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this agreement as of the effective date.

Signed, sealed and delivered on behalf of Occupant

Name: [INSERT NAME OF OCCUPANT/SIGNING AUTHORITY]

Signature:

Date: [INSERT SIGNING DATE OF OCCUPANT]

Signed, sealed and delivered on behalf of Co-Owner

Name: [INSERT NAME OF THE CO-OWNER/SIGNING AUTHORITY]

Signature: 

Date: [INSERT SIGNING DATE OF CO-OWNER]