PARTIES

This Joint Venture Co-Ownership Agreement (the "Agreement") is entered into as of the date above by and between:

• Party A: [Full Legal Name], of [Address] ("Party A")
• Party B: [Full Legal Name], of [Address] ("Party B")
• Party C (if applicable): [Full Legal Name], of [Address] ("Party C")

Collectively referred to as the "Co-Owners."

1. PROPERTY

The Co-Owners agree to jointly purchase the following property:

• Civic Address: [Street Address, City, BC, Postal Code]
• Legal Description: [PID / Legal Description from Land Title Office]
• Purchase Price: $[Amount]

2. OWNERSHIP INTERESTS

The Property shall be held as Tenants-in-Common in the following undivided interests:

• Party A: [__]% interest
• Party B: [__]% interest
• Party C: [__]% interest (if applicable)

These percentages reflect each party's proportionate contribution to the total purchase price including down payment, closing costs, and agreed capital contributions.

3. FINANCIAL CONTRIBUTIONS

3.1 Down Payment

• Party A contributes: $[Amount] ([__]% of total down payment)
• Party B contributes: $[Amount] ([__]% of total down payment)

3.2 Mortgage

All Co-Owners shall be registered on the mortgage and shall be jointly and severally liable for mortgage payments. Monthly mortgage contributions shall be proportionate to each party's ownership interest unless otherwise agreed in writing.

3.3 Ongoing Expenses

The following costs shall be shared proportionately to ownership interest unless otherwise noted:

• Property taxes
• Homeowner's insurance
• Strata fees (if applicable)
• Routine maintenance and repairs under $[Amount] per occurrence

Major repairs or capital improvements exceeding $[Amount] require unanimous written consent of all Co-Owners.

4. USE AND OCCUPATION

Each Co-Owner shall have the right to occupy their designated portion of the Property as set out in Schedule A. No Co-Owner shall lease, sublease, or permit third-party occupation of their designated portion without prior written consent of all other Co-Owners.

Common areas (driveways, yards, laundry facilities, etc.) shall be shared equally and maintained cooperatively.

5. DECISION-MAKING

5.1 Routine Decisions

Day-to-day maintenance and decisions may be made by any Co-Owner acting reasonably.

5.2 Major Decisions

The following require unanimous written agreement of all Co-Owners:

• Sale of the Property or any interest therein
• Refinancing the mortgage
• Capital improvements exceeding $[Amount]
• Adding or removing a Co-Owner
• Changes to this Agreement

6. TRANSFER OF INTEREST — RIGHT OF FIRST REFUSAL

No Co-Owner may sell, transfer, or otherwise dispose of their ownership interest without first offering it to the remaining Co-Owners at the same price and terms as any bona fide third-party offer (the "Right of First Refusal").

The remaining Co-Owners shall have 30 days from receipt of written notice to exercise this right. If not exercised, the selling Co-Owner may proceed with the third-party sale, subject to the transferee executing an assumption of this Agreement.

7. BUYOUT PROVISIONS

If a Co-Owner wishes to exit the arrangement, the following process applies:

1. The exiting Co-Owner provides 90 days' written notice to all other Co-Owners.
2. The parties shall agree on a fair market valuation within 30 days, or jointly appoint a licensed BC appraiser.
3. The remaining Co-Owners have the right to purchase the exiting interest at the appraised value within 60 days of valuation.
4. If no Co-Owner exercises the buyout, the Property shall be listed for sale on the open market and proceeds distributed proportionately.

8. DEATH OR INCAPACITY

Upon the death or legal incapacity of a Co-Owner, their interest shall pass to their estate or designated beneficiary. The remaining Co-Owners retain the Right of First Refusal to purchase the interest from the estate at fair market value within 90 days of appointment of an executor or administrator.

9. DEFAULT

If a Co-Owner fails to meet their financial obligations under this Agreement for a period exceeding 60 days, the non-defaulting Co-Owners may:

• Cover the defaulting party's share and add it as a debt owed to them, registered as a charge against the defaulting party's interest; or
• Trigger the buyout provisions under Section 7 at a valuation discounted by [__]% to reflect distress.

10. DISPUTE RESOLUTION

The Co-Owners agree to attempt to resolve any dispute through good-faith negotiation. If unresolved within 30 days, the parties shall engage a mutually agreed mediator. If mediation fails, disputes shall be resolved by binding arbitration in accordance with the BC Arbitration Act, with the seat of arbitration in [City], British Columbia.

11. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia and the applicable laws of Canada.

12. ENTIRE AGREEMENT

This Agreement, together with any Schedules attached hereto, constitutes the entire agreement between the Co-Owners with respect to the Property and supersedes all prior discussions, representations, and agreements.