Right of Use Agreement for Vacation Property

Do you own a vacation property in common with one or more other owners? Make sure the rights and obligations of the co-owners are clearly set out with this Right of Use Agreement Between Co-Owners ⁄ Tenants in Common.

Provisions of the Agreement include:

the use periods for each co-owner during the calendar year,
the right of each co-owner to sublease the vacation property to someone else during their assigned use period if they are unable to use it,
leasing to third parties during the balance of the year,
retaining a property manager to look after the property during those times when the co-owners are not there,
allocation of payment of taxes, costs and expenses among the co-owners,
procedure for selling, mortgaging or dealing with a co-owner's interest if the other co-owners have no pre-emption rights,
if there are pre-emption rights, the other co-owners have a right of first refusal before any co-owner can deal with his/her percentage interest.

This Right of Use Agreement for Vacation Property is available in MS Word format, and is fully editable to meet your needs.