Co-buying
What happens if one of us wants to sell?
It is settled in writing before you buy. A co-ownership agreement sets the notice period, the valuation method, and who gets first chance to buy the other share.
The short answer
You decide it in advance, in writing, before either of you needs the answer. A co-ownership agreement drawn up with a lawyer sets out what happens when one household wants out.
Three things it has to answer:
- How much notice the leaving household gives
- How the home is valued, agreed as a method rather than a number
- Who gets the first opportunity to buy the departing share
Why the method matters more than the number
You cannot write down what the property will be worth in nine years. You can write down exactly how you will work it out.
Naming the method in advance removes the argument that otherwise happens at the worst possible moment, when one household has already decided to go and the other is deciding whether to feel wronged about it. Agreeing a process is achievable. Agreeing a price years ahead is not.
The agreement is drafted before, not during
This is the practical point. The agreement is a purchase document, not a dispute document. It gets written while both households are optimistic, patient and talking to each other freely.
An agreement written after a disagreement has started is a negotiation. Written before, it is just paperwork.
It is a lawyer's document, not ours
We will tell you what it needs to cover and why, and we have seen what happens when a piece is missing. We do not draft it. Each household should have the agreement reviewed by a lawyer acting for them, not for the project.
Life changes are the normal case
Someone takes a job in another city. A family grows. A relationship changes. None of that is a failure of the arrangement, and the agreement should not read as though it is.
The point of settling this early is that a household leaving becomes a process you follow rather than a crisis you manage.