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Frequently Asked Co-Buying Questions

General Co-Buying Questions

Co-Buying Abroad

General Co-Buying Questions

What is shared ownership or co-buying?

In simple terms, shared ownership or co-buying is where two or more people make a joint investment in a house, or boat or something else. By doing this then each own a share of the purchase.

Though not for everyone it does have some distinct benefits, not least the ability to expand your financial reach but also that by co-buying you can make significant costs savings.

A full overview of shared ownership and what it entails can be found in our co-buying guide by clicking here.

Where can I find out information on the legal aspects of co-buying?

A good place to start is our “how does it work” section contained within our co-buyers guide. That gives an overview of the various steps in the co-buying process and discusses the different aspects of the process, what they are and what their purpose is e.g. the declaration of trust and co-habitation agreement while talking you through the process when proceeding with a shared ownership agreement. This can be found here.

Another good way is to talk to a Co-Buyer friendly estate agent or independent financial advisor.  They will be able to explain the process to you while also pointing you in the direction of the required resource.


Where do I find other Co-Buyers?

Here is the best place to start. Register your details and search away. Use of contact system to make initial contact and take it from there. See our get to know them section for some help and advice.

I'm interested in shared ownership but am a bit scared what happens if something goes wrong?

The unexpected can always happen and personal circumstances can change. As part of the co-buying process each party signs a declaration of trust. In the event of any party then seeking an exit strategy this then pre-determines what course of action will be taken thus avoiding any difficulties. More information on this can be found in our co-buying guide.

Co-Buying Abroad

What is the process of Co-Buying a home in Canada?

In Canada the law provides for two types of co-ownership; divided co-ownership and undivided co-ownership.

Divided Co-Ownership

Divided co-ownership, as the name implies, permits the division of a building into fractions with a fraction belonging to one or more persons. Each owner of a fraction then has the exclusive ownership of a private portion of the building with the common areas belonging to and shared by all e.g. you each own your own property, but share the garden and hall.

Undivided Co-Ownership

With undivided co-ownership the property here belongs to two or more individuals where you share all areas, rather than a fraction e.g. you buy an apartment with a friend and you both reside there having paid equal shares of the sale price. This type of co-ownership is the same as co-buying or shared ownership.

A good article with further in-depth details of co-buying property in Canada  published by the Chambre des notaries du Québec can be found here. Please not this will navigate you way from Co-Buyers so please book mark this page.