Role & Responsibilities

General Information

1. Property Address

2. Effective Date of Agreement

3. Co-Owners’ Full Names

Co-Owner One(Required)

Co-Owner Two(Required)

Co-Owner Three (if applicable)

Co-Owner Four (if applicable)

Financial Responsibilities

1. What is each Co-Owner’s monthly financial contribution toward property expenses (mortgage, taxes, insurance, utilities)?

Co-Owner One(Required)

Per Month

Co-Owner Two(Required)

Per Month

Co-Owner Three (if applicable)

Per Month

Co-Owner Four (if applicable)

Per Month

2. Who is primarily responsible for ensuring payments are made on time?

Primary Responsible Co-Owner

Backup Responsible Co-Owner

3. When are monthly payments due?

Due Date (day of each month)

4. What is the preferred payment method?

Bank transfer

Joint account

Other

Please Specify

Property Management Responsibilities

1. Who will act as the Primary Property Manager for overseeing maintenance and repairs?

Primary Property Manager:

Backup Property Manager:

2. How will repairs be approved?

Property Manager can authorize repairs under (without pre-approval)

All repairs require pre-approval for expenses over

Repair Amount(Required)

3. Who will handle urgent repairs or emergencies (e.g., plumbing, HVAC issues)?

Emergency Contact Co-Owner

Decision-Making Responsibilities
1. Who will act as the Decision-Making Coordinator to organize and lead discussions?
iOrganizes discussions and ensures all co-owners are informed.
Decision-Making Lead

2. Which decisions require formal voting? (Check all that apply)

Major repairs/improvements exceeding $

Selling or refinancing the property

Leasing or renting the property

Other

Repair Cost

Formal Voting Other

3. What voting threshold will apply for major decisions? (Select one)

Unanimous approval (all Co-Owners must agree)

Majority vote (over 50% ownership shares)

Other

Please Specify

Escrow Fund Management

1. Will an escrow fund be established for emergencies or defaults?

Yes

No

2. How much will each Co-Owner contribute to the escrow fund monthly?

Co-Owner One(Required)

Co-Owner Two(Required)

Co-Owner Three (if applicable)

Co-Owner Four (if applicable)

3. Who will manage the escrow account?

Primary Account Holder

Backup Account Holder

4. How will withdrawals from the escrow fund be approved?

Unanimous consent of all Co-Owners

Majority approval (over 50%)

Other

Please Specify

5. What bank or institution will hold the escrow account?

Bank Name

Rotating Responsibilities

1. Do you want to rotate specific roles (e.g., Property Manager, Bookkeeper)?

Yes

No

2. If yes, define the roles and rotation schedule

Role

Rotation Period (e.g., 6 months)

Schedule

Property Manager

Property Manager Rotation Period(Required)

Property Manager Schedule(Required)

Bookkeeper

Bookkeeper Rotation Period(Required)

Bookkeeper Schedule(Required)

Tenant Liaison (if applicable)

Tenant Liaison Rotation Period(Required)

Tenant Liaison Schedule(Required)

Enforcement of Responsibilities

1. How will failures to fulfill responsibilities be addressed?

Temporary reassignment of duties to another Co-Owner

Deduction of any incurred costs from the responsible Co-Owner’s ownership share

Other

Please Specify

2. How frequently will Co-Owners meet to review responsibilities and performance?

Monthly

Quarterly

Annually

Final Agreement and Approval

By completing this questionnaire, all Co-Owners confirm their assigned roles, responsibilities, and financial commitments, which will be included in the Real Estate Prenup Agreement Addendum.

Protect Your Investment, Secure Your Partnership

General Information

3. Co-Owners’ Full Names

Financial Responsibilities

1. What is each Co-Owner’s monthly financial contribution toward property expenses (mortgage, taxes, insurance, utilities)?

2. Who is primarily responsible for ensuring payments are made on time?

Property Management Responsibilities

1. Who will act as the Primary Property Manager for overseeing maintenance and repairs?

Financial Record-Keeping

1. Who will manage and keep track of financial records (bills, payments, repair costs)?

Tenant Management

2. Who will be responsible for communicating with tenants (rent collection, tenant concerns)?

Decision-Making Responsibilities

Escrow Fund Management

2. How much will each Co-Owner contribute to the escrow fund monthly?

3. Who will manage the escrow account?

Rotating Responsibilities

2. If yes, define the roles and rotation schedule

Role

Rotation Period (e.g., 6 months)

Schedule

Property Manager

Bookkeeper

Tenant Liaison (if applicable)

Enforcement of Responsibilities

Final Agreement and Approval

NAVIGATION

LEGAL