Co-Ownership of Property: Why Documentation Matters
In the current housing supply crisis, many
people—particularly family members—see buying a
property together as a means of getting into the rising property
market.
In most cases, especially in a rising market, this arrangement
works out well. After a few years, the property appreciates in
value, and the parties can share a profit. However, when
relationships break down, and there is no formal agreement about
what should happen, the parties can end up in costly
litigation.
Co-ownership of property documentation is essential in these
arrangements to avoid future disputes.
Recent Decisions
In the recent decision of Joudo v Joudo [2024] NSWCA 258, Ms.
Ravina Joudo (the Appellant) purchased a property in her own name
at 25 Robey Avenue, Middleton Grange (the Property). Ms. Maria
(Marie) Joudo and Mr. Ronnie (Ronnie) Joudo (the Respondents) are
the Appellant's brother and sister-in-law. They resided in
