To print this article, all you need is to be registered or login on Mondaq.com. Although buying property with someone else is exciting, it is also risky. Before you rush to sign the contract for purchase, it would be sensible to consider whether executing a co-ownership agreement is appropriate in your circumstances. What is a co-ownership agreement? A co-ownership agreement is a legally binding document entered into between 2 or more co-owners. This document will include terms to provide certainty as to how each co-owner will navigate the various issues associated with property ownership. The terms serve as a record of each co-owner's intentions as to how issues are to be resolved and can avoid the need for costly legal proceedings, or worse a breakdown in the relationship between co-owners.