What is a Property Sharing Agreement?

A Property Sharing Agreement, also known as a Co-ownership Agreement, is a private contract that sets out the rights and obligations of the co-owners, when a group of people is purchasing a property together. It’s an important document to have when purchasing a property with friends, flatmates, siblings, or extended family.

It’s becoming increasingly popular to team up with a group and contribute to a mortgage together, and it’s a great way to get on the property ladder. That being said, buying a house together can get stressful and messy. There are a number of decisions to make, as a group, about certain situations that may arise as part of the arrangement. Formalising these decisions with a Property Sharing Agreement could help to avoid costly disputes in the future.

Want a Property Sharing Agreement for just $199? Click here to learn more about Agreeable’s online, lawyer-designed service. Even better, use code PSA20 for 20% off your agreement.

Who should get a Property Sharing Agreement?

If you are planning to purchase a property with two or more people (that aren’t your spouse/partner) a Property Sharing Agreement is a widely recommended step in the process. These groups are commonly made up of friends, flatmates, or siblings, and even if you feel that the relationships are amicable, buying a property together can bring up unique challenges and risks. It’s crucially important to discuss all aspects of the arrangement with all other co-owners. Then, recording the key decisions in a Property Sharing Agreement makes a lot of sense to provide clarity for the future. In fact, many banks require a Property Sharing Agreement before lending to a group.

Get our free guide to Property Sharing Agreements

What goes in a Property Sharing Agreement?

The following list addresses most of the key points to consider and decide on before beginning your Property Sharing Agreement:

  1. Address of the property that the parties intend to purchase.
  2. Details of the parties who are buying the property.
  3. Purchase price of the property.
  4. Total initial cash contribution (i.e deposit) towards the purchase price.
  5. Each party’s percentage share (and dollar amount towards) the initial cash contribution.
  6. Purpose for purchasing the property.
  7. How the parties plan to pay for outgoings, mortgage payments.
  8. How maintenance and repairs will be decided.
  9. Whether the parties intend to seek independent legal advice on the implications of the agreement.
  10. Who the mortgagee is (the bank lending to the parties).
  11. Whether the parties want a right of first refusal option.

Agreeable has a simple online questionnaire that generates a Property Sharing Agreement based on your answers. The template it produces has been crafted with help from expert lawyers around NZ. After purchasing and building the draft agreement, you can also get online, expert legal advice on your agreement through Agreeable’s excellent network of lawyers.

property sharing agreement

Get a Property Sharing Agreement online today with Agreeable.

How do we make it legally binding?

Once all parties have read and signed the agreement, the document is legally binding. This is because it is a private contract between the parties. Therefore, getting independent legal advice before finalising and signing it, where the lawyer(s) may suggest edits and changes, is a highly recommended step. 

It is highly recommended that the parties seek independent legal advice before signing the agreement. A lawyer will be able to ensure that the agreement reflects the intentions of the parties, and they may suggest custom edits to the document to do so. Click here to contact Agreeable about getting a Property Sharing Agreement and legal advice, online and without leaving home.

What else should we know about Property Sharing Agreements?

One of the key things to remember is that if one co-owner can’t pay their share of the mortgage repayments, the other co-owners will be liable to cover the shortfall. This is something to ensure that all people in the group are aware of before entering into the agreement.


We’ve realised we need one. Where do we start?

Agreeable is an incredibly easy and cost-effective way to build a solid and binding Property Sharing Agreement, and for just $199 (v.s. up to $1,000 at most law firms).


  1. You’ll get access to our online questionnaire, which usually takes less than 15 minutes to complete if you have all the information on-hand.
  2. Once you’ve answered all questions, you’ll be emailed your draft agreement as a Word document, and you (or our team) can make further edits for you if you need.
  3. We also encourage you to get legal advice on the agreement, and you can contact our team for a fixed quote from one of our excellent lawyer team, who can recommend changes and advise you on the agreement’s implications.