Contracts

This agreement is very comprehensive and, amongst other issues, deals with the following:

• The obligations of the owner to maintain and manage the car
• Costs splitting procedures
• Reservation procedures for the use of the car
• The allocation of liability between the sharers in the event of damage or accidents
• Prohibitions and requirements regarding the use of the car
• How to bring the agreement to an end if necessary

If required, this agreement can cater for some of the sharers not to be owners of the motorbike, providing that they will pay a share of the running costs and not simply a mileage rate.

This agreement is very comprehensive and, amongst other issues, deals with the following:

• The ownership of the motorbike and any accessories or equipment related to the motorbike
• Management of the motorbike and decision-making
• Costs splitting procedures
• Reservation procedures for the use of the bike
• The allocation of liability between the sharers in the event of damage or accidents
• Prohibitions and requirements regarding the use of the motorbike
• Procedures for admitting new sharers, and for terminating the agreement, including how to sell a share in the motorbike

This agreement is intended for use in situations where the owner of a horse wants to share the use of the horse with others for pleasure and recreational purposes. This does not preclude any competing by the sharers, but this agreement is not designed to be used to regulate the relationship between people who own or otherwise share a horse for competition purposes. For example there are no provisions for training plans that must be adhered to.

This agreement is suitable for use to set up a boat share scheme, club or syndicate where two or more people will share ownership (fractional ownership) in a boat. This particular agreement is designed for use in groups that share a larger boat, such as a yacht, motor boat or narrow boat. The criterion for deciding whether a boat is a ‘large boat’ for the purpose of this agreement, is whether it has living accommodation on board. This agreement deals with issues that are specific to larger boats by making provision for reserving the boat for longer periods of time than the alternative small boat agreement, and has more detailed provision for splitting the costs of running the boat, as these will inevitably be higher with a larger boat.

This agreement is suitable for use to regulate the relationship between people who share ownership (fractional ownership) of a property that they will live in together. It deals with day to day practical and financial management issues, and does not deal with defining the method of legal ownership of the property or the shares that the owners have in the property. The owners must ensure that these issues are addressed by the solicitor or conveyancer acting for them when purchasing the property. As a result of separating these property law issues out of this agreement, it can be used to govern the relationship between owners even if the property is abroad, but it is important to remember that the agreement is drafted to be governed by English and Welsh law.

This agreement is suitable for use to regulate the relationship between people who share ownership (fractional ownership) of a property that they will not live in as their primary home, but will use as a holiday home. The agreement can be used whether the owners will use the holiday home together at the same time, or whether they use it at separate times.