{"id":43467,"date":"2026-10-20T08:00:00","date_gmt":"2026-10-20T12:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=43467"},"modified":"2026-10-16T12:06:09","modified_gmt":"2026-10-16T16:06:09","slug":"co-owning-homes","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/co-owning-homes\/","title":{"rendered":"Buying a Home With Friends or Siblings: 7 Co-Ownership Agreements"},"content":{"rendered":"\n

Homeownership doesn\u2019t have to be a solo mission. Buying a home with a friend or sibling can help make homeownership more attainable by combining savings, sharing expenses and building equity together. According to the Ontario government\u2019s guide to co-owning a home<\/a>, pooling financial resources can make homeownership more affordable and give buyers access to neighbourhoods they might not be able to afford on their own.<\/p>\n\n\n\n

But before you start browsing listings together, you need a plan for more than the down payment. A co-ownership agreement is a written legal contract that outlines each buyer\u2019s rights, financial responsibilities and expectations for sharing a property. It can help protect your investment, prevent misunderstandings and keep your friendship or sibling relationship on solid ground.<\/p>\n\n\n\n

Here\u2019s what to cover before buying a home with friends or family.<\/p>\n\n\n\n

1. Ownership Shares and Down Payment Contributions<\/h2>\n\n\n\n

Start by deciding who owns what percentage of the property.<\/p>\n\n\n\n

You might split ownership equally, or you might agree on different shares based on each person\u2019s financial contribution. For example, one sibling could contribute 60% of the down payment while the other contributes 40%. Your agreement should document each person\u2019s initial contribution, ownership percentage and how you\u2019ll divide the proceeds if you eventually sell.<\/p>\n\n\n\n

You should also decide how to register ownership on the property title. In Ontario, joint tenancy generally means a deceased owner\u2019s interest passes to the surviving owner or owners, while tenancy in common allows each owner\u2019s share to pass through their estate. The Ontario government explains these options in its co-ownership guide<\/a>.<\/p>\n\n\n\n

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2. Mortgage Payments and Monthly Expenses<\/h2>\n\n\n\n

Sharing a mortgage means sharing financial responsibility, so get specific about the numbers before you buy.<\/p>\n\n\n\n

Your agreement should explain how you\u2019ll split mortgage payments, property taxes, home insurance, utilities, internet and routine maintenance.<\/p>\n\n\n\n

It should also cover major expenses, including emergency repairs, appliance replacements and renovations. Consider creating a shared emergency fund so an unexpected roof repair doesn\u2019t become a financial crisis.<\/p>\n\n\n\n

The Ontario government\u2019s guide to financing a co-owned home<\/a> recommends discussing contributions, ongoing costs and financing arrangements before purchasing.<\/p>\n\n\n\n

Remember that your ownership percentage and your mortgage obligations are not necessarily the same thing. Ask your lender and lawyer how liability works under your specific mortgage, including what happens if one co-owner stops paying.<\/p>\n\n\n\n