Agreement between tenants in common as to sale by one or more, etc.

_________, _________, _________, _________, _________, _________, _________, and _________ have together purchased, and now own, the island known as _________ island situated in lake _________ in the town of _________, county of _________, and state of _________, and have agreed to expend it on certain sums of money for improvements to island, buildings it on, and such other purposes as may be mutually agreed upon by and between parties, now in consideration of the mutual promises below set forth, it is agreed that, should any of the parties desire to dispose of the party's interest in island and in whatever improvements have been made on it, remaining parties shall repay to such party whatever money has been paid out by such party in the purchase of island in making improvements on the island without interest, such amount being $_____, and upon the decease of any of parties such sum shall be paid to such party's heirs, executors and administrators. And each of the parties agrees to and with the others for the party's self, the party's heirs, executors, and administrators that the party will not bargain, sell, or convey property and improvements to any other person or persons or in any other manner than as above set forth, save that it should be eventually agreed at any time between all the parties who hold the property and improvements to sell and dispose of the same, then and in that case the property may be sold to any person or persons whatsoever, free from restrictions or condition by anything contained in this agreement. Any of parties who may so desire may with the consent of the other parties above mentioned erect a cottage for the party's private use on such land but after the erection of such a cottage such party's obligations for support of the clubhouse and such party's rights in it shall continue unchanged, and if such party shall dispose of such party's interest in land and improvements to the other parties as provided such party shall not receive any compensation for the cottage rented for such party's private use unless the other parties choose to give such party compensation for it.

 

 

_________________________________________________________________________________________

 

More Real Estate Forms

 

Browse Real Estate Forms & Mortgage Forms Alphabetically

 

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 



Home Courses Real Estate Forms Income Properties For Sale Forums Real Estate Articles   

Copyright © 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.