Co-ownership Agreements: Buying Property With Family or Friends
What to agree before you buy together, and what happens if you do not
More people are buying with siblings, friends or parents to get into the market. It can work well, but most disputes come from things nobody wrote down: who paid what, who pays for repairs, and what happens when one person wants to sell.
Optimum Lawyers is a property law firm in Parramatta Square, led by principal solicitor Wisam Assi. We act on purchases, sales, settlements and transfers in every Australian state and territory.
Ask us to prepare a co-ownership agreement
We offer a free initial contract assessment. It is a brief first look at whether the contract appears ready for a full paid legal review. It is not the full review, and it is not free conveyancing.
How you hold title
Co-buyers who are not a couple usually hold title as tenants in common in set shares, so each share passes under that owner's will. Joint tenants own the whole together and the survivor takes everything. See joint tenants vs tenants in common.
What the agreement should cover
- Each owner's share and what each contributed to the deposit and costs.
- Who pays the mortgage, rates, insurance and repairs, and what happens if someone falls behind.
- Who can live in the property, and rent if one owner occupies it.
- How an owner exits: notice, valuation, the right of the others to buy them out, and when the property must be sold.
- What happens on death, separation or bankruptcy of an owner.
If there is no agreement
If co-owners cannot agree, one of them can ask a court to appoint trustees to sell the property. In NSW this is done under section 66G of the Conveyancing Act. It is expensive and slow, and a written agreement usually avoids it.
The mortgage
On a joint loan each borrower is usually liable for the whole debt, not just their share. The agreement cannot change what you owe the bank, but it can set out how you will deal with each other if one person cannot pay.
Buying with parents
When parents contribute, decide whether the money is a gift, a loan or a share of the property, and put it in writing. It affects the bank, any first home buyer concessions and what happens later.
What clients say
“We've used his services on multiple properties on both local and interstate buying and selling”
Edgi Vega, Google review
Questions about co-ownership
Do I need a co-ownership agreement to buy with a friend?
It is not required by law, but it is strongly recommended. Most co-ownership disputes come from things that were never agreed.
What happens if my co-owner wants to sell and I do not?
It depends on your agreement. Without one, a co-owner can apply to court for an order to sell.
Can we own unequal shares?
Yes, as tenants in common. The shares are recorded on the title.
Does buying with my parents affect first home buyer concessions?
It can. Concessions depend on every buyer, so check before you sign.
From Our Clients
We are the leading interstate Queensland conveyancing property lawyers in Sydney for a reason. Ethical, Trusted, Optimum Lawyers Parramatta at your service. Still unsure? We let our reviews do the talking.
Jarrod Oliver
3 months ago
Highly recommend Wisam and Optimum Lawyers. He represented me through a time-sensitive property purchase and was exceptional from start to finish. His communication was clear, prompt and practical, and he made himself available when several issues arose at the last minute. Wisam acted quickly, explained my options plainly and advocated strongly on my behalf, helping bring the matter to a successful resolution without unnecessary stress. Professional, responsive and genuinely committed to his client. A+ representation, and I would use him again without hesitation.
JBK O
4 months ago
Mia Charles
4 months ago
Wisam and team are fantastic, supported a tenanted dual-occupancy WA settlement and delivered well! They are very quick to respond to communications. Would definitely recommend Wisam and team!
Martina Bona
5 months ago
I’ve used Wisam for two property purchases now, and I honestly can’t recommend him enough.
Back in 2023, I urgently needed someone to review contract documents within a few hours or I was going to lose the opportunity. As a young investor, I wasn’t fully familiar with the process and definitely wasn’t prepared. Every conveyancer I called told me it was impossible to get it done in time, but Wisam dropped everything to help me. He reviewed the documents quickly and took the time to properly explain the process to me in a way I could understand.I didn’t end up purchasing that property, but I later settled on a different one with Wisam handling everything.
Now again in 2026, during the purchase of my second property, he has been just as reliable. When everyone else (banks, brokers, builders, land agents) were lacking organisation and communication, Wisam was always organised, professional and prepared. I knew that if I emailed or called him, he would respond with urgency. He made sure I was protected in every way. Wisam never complained when I sent him panicked emails and always made sure I was looked after
I’ve recommended him to so many people already because he genuinely wants the best outcome for his clients, and that really shows in the way he works.
Connor Tremlett
7 months ago
Easy communication and clear in what is required regarding settlement both purchasing and selling. Have had a great experience with Wisam. Highly reccomend 🙏
LONG PHAM
9 months ago
Wisam and his team acted on our behalf for a property we recently purchased. He was with us every step of the way, explained everything in a way which was digestible for us and kept us well informed throughout. He was very approachable and replied to our queries very promptly. Wisam inspired confidence in his work in a way which allowed us to trust him and his team with our purchase. We hope to be able to work with Wisam and his team again in the near future.
claire vh
10 months ago
Optimum Lawyers deserve more than 5 stars. They are an exceptional team of legal practitioners, deeply committed to their clients, with excellent knowledge of the law and integrity in all they do. I was referred to Optimum after a very slow start with another firm, and within 24 hours, Wisam and Saber had reviewed a hefty pile of documents and had already formed a clear view of what we were dealing with. Wisam was my partner in the decision making process - gave me facts and space to figure things out - and also a great support on a human level. He is more than a solicitor, he is an advocate. They go above and beyond. I honestly could not speak more highly of a legal professional and his team. We will be using them for all family matters moving forward. Thanks Wisam and Saber!
Benn Hart
12 months ago
I've engaged Wisam and the team at Optimum Lawyers for both real estate and commercial matters.
Wisam acted promptly and with laser precision, ensuring successful outcomes on each occasion.
Hussein Aly
1 year ago
Wissam helped me with my case and it was a success. He tells you what is best for you and makes sure that you are at ease. Highly recommend
Shady Soliman
1 year ago
I engaged Wisam for conveyancing to purchase an interstate investment property.
Wisam and his team held my hand through the entire process and ensured I received the absolute best outcome.
Thank you Wisam, it has been a pleasure working with you, I look forward to working with you again in future.
Clare Monkley
1 year ago
Wisam, I can not thank you enough for all the assistance that you gave my clients while going through the settlement of their first investment property. You and I both know that some challenges can arise. You fought hard to make sure that they did not have to pay any penalty interest for any delay on settlement. There are not too may around any more that put the effort in for the clients. You and I both know without clients we do not have a business and we are always grateful when someone puts their faith and trust in us.
Clare - Love Finance
Response from the owner
Thank you so much for your review, Clare! We are thrilled to hear about your successful property settlement and how our team, especially Wisam, helped make this a smoother process for you. We appreciate your trust in us and look forward to your next visit.
2 years ago
Oli B.
1 year ago
Professional and attentive to the smallest of details with clear, punctual communication throughout the whole settlement process. Highly recommend for all property law services !
Response from the owner
Thank you for your kind words! We're delighted to hear you had a positive experience with our service and communication. Your recommendation means a lot to us!1 year ago
Glenn Johnstone
1 year ago
Wisam has been my solicitor for both purchasing and selling my property. He is extremely hard working and willing to get the best outcome. It made my experience a lot easier having him apart of my team.
Response from the owner
Thank you Glenn for sharing your experience! We’re thrilled to hear Wisam made the process smoother for you. Your feedback means a lot, and we’ll be sure to pass along your kind words to him.1 year ago
souha farid
1 year ago
Thank you to Wisam and the team for delivering such a smooth and stress-free experience. The entire transaction was seamless, and your support was greatly appreciated.
Response from the owner
Thank you for your kind words! We’re thrilled to hear Wisam and the team provided a smooth experience. Your satisfaction means a lot to us, and we’re always here to assist you whenever needed.1 year ago
Inderjeet Gulati
1 year ago
Mr Wisam Assi is a highly experienced and professional Solicitor. He managed so well SMSF property buying process in WA while in NSW! Thanks to you and your team !
Response from the owner
Hi Inderjeet,
Thank you for your 5 star review. Interstate property settlement sure can be tricky and most 'normal' conveyancers get so much wrong due to the different rules in each state. We're so glad you noticed how easy your interstate settlement was with Wisam and the team at Optimum Lawyers. Thats why were the only specialist interstate property lawyers in Sydney!
Regards,
Optimum Lawyers1 year ago
Andrew
1 year ago
Wisam and his team did a fantastic job on the recent sale of an investment property. Wisam is helpful and answers any questions in a timely fashion. Highly recommend.
Response from the owner
Thanks Andrew! Investment property sales can sometimes be complicated and stressful, but not when you have specialist property lawyers like Optimum Lawyers on your side!
Regards,
Optimum Lawyers1 year ago
David Muscat
2 years ago
Wisam at Optimum Lawyers recently helped me through the purchase of an investment property. He knows exactly what he's doing and what to look out for, which certainly helped to put everything at ease for me. Not only is he also extremely efficient, but was always happy to answer any additional questions I had in a very prompt and professional manner. I look forward to working with him again.
Response from the owner
Thank you David! We sure do know what to look for! Congratulations on your amazing investment property purchase!
Regards,
Optimum Lawyers1 year ago
Marc
2 years ago
Exceptional Service from Optimum Lawyers!!
My wife and I were recommended Wisam from Optimum Lawyers by our broker to assist us with purchasing our property. From the very start, Wisam was a pleasure to work with, providing exceptional assistance and clear guidance with support throughout the settlement process.
The entire team at Optimum Lawyers made what could have been a stressful and complex process feel effortless. Their professionalism, responsiveness, and attention to detail were invaluable in ensuring everything went smoothly.
I strongly recommend Optimum Lawyers as their commitment to delivering professional and high-quality service truly sets them apart.
Response from the owner
Thank you Marc! We really appreciate the kind words for our property lawyers!
Regards,
Optimum Lawyers1 year ago
Raf
2 years ago
I would like to thank Wisam and the team at Optimum Lawyers for their excellent service. Wisam was very knowledgeable and prompt with all communication. I cannot thank you enough for the seamless process.
David Hugill
2 years ago
I recently sold my investment property with Wisam of Optimum Lawyers as solicitor. I had used Wisam some 14 years earlier in the purchase of the property and subsequently with other property purchases. Much of the work involved with the sale of the property this year took place while I was away on my family's first and long-delayed overseas trip to see relatives. Wisam kept me well updated and informed throughout the process, especially as he dealt with a challenging purchaser solicitor who seemed frequently otherwise distracted and asking for multiple settlement delays. While we agreed to accommodate as much as was acceptable, Wisam strongly asserted my rights in having the sale proceed promptly as per the contract. I plan to ask Wisam to deal with future sales and purchases as and when they occur.
Response from the owner
Thank you for sharing your experience with Wisam. We're delighted to hear that he provided excellent support and communication, especially under challenging circumstances. We appreciate your continued trust and look forward to assisting with future property settlements!2 years ago
Trent & Julieanne Cardwell
2 years ago
Thankyou for a prompt, reliable and extremely efficient service.
Response from the owner
Hi guys, thanks so much for the kind words for our specialist interstate conveyancing!2 years ago
Brandon kerr
2 years ago
Cannot say enough how thankful me and my partner are to Wisam he was great to deal with very professional throughout the whole experience, would ask him to represent us again in the future for any work like this again
Kathryn Foster
2 years ago
Rohan's level of knowledge, clear and concise explanations to questions and no-nonsense approach were both reassuring and encouraging. I would highly recommend Rohan to others
Katrina Ong
2 years ago
Wisam has been an invaluable partner throughout both my property buying and selling journeys. His expertise is evident in every interaction, and his promptness and responsiveness have consistently exceeded my expectations. Thank you Wisam, looking forward to working together again in the future.
Yen Cristina
2 years ago
I had a pleasure of working with Wisam Assi for my property settlement over a year and a half ago. Recently, I reached out to him with a follow-up inquiry, and Wisam responded with the same level of attentiveness and professionalism that I experienced during my initial case.
Wisam not only handled my property settlement with exceptional skill and efficiency, but also demonstrated an unwavering commitment to client support long after the case was closed. He provided clear, insightful advice that addressed my concerns promptly and thoroughly.
The fact that Wisam took the time to assist me after so much time had passed is a testament to his dedication and genuine care for his clients. I am incredibly grateful for his ongoing support and expertise.
I highly recommend Wisam Assi to anyone seeking legal counsel. He's not only a highly skilled lawyer but also a reliable and supportive advocate who truly goes above and beyond for his clients.
Greg O'Loan
3 years ago
Wisam and the team at Optimum Lawyers were absolutely brilliant in our conveyance matter. When the settlement became difficult and confusing we were very thankful to have Wisam on our side to look after us and give solid advice.
Tristine Hurle
3 years ago
Wasim is brilliant 😄 this is my 4th property he has sorted out 4 me and never to hard no complications or hiccups thats why i always go back to him.
He is very well priced and competitive.
Nothing is to hard
Thanks so much optimum lawyers awesome job yet again 😄😄😄
Very happy 😃
Predrag Alavanja
3 years ago
Wisam & optimum lawyers was an absolute pleasure to deal with. So efficient and so reliable. I have been working with wisam for many years now & will continue to do so. Highly recommend.
Aron Cardona
3 years ago
Wisam and his team delivered quality service and communication whilst dealing with a mutual customer. The process went very smoothly and I look forward to working with the team at Optimum Lawyers again in the future.
Tamana Kamara
3 years ago
For me i did not even look at any of the reviews to be honest, just check Wisam ABN with the Australian ABN register online and it was active.
Gave him a call we talk and straight away i knew i could work with him, and he did not disappoint he made the entire process so easy buying my first block of land interstate.
I will surely recommend Wisam to anyone who is looking for reliable lawyer one who is always ready to take your call and answer your question and clear your doubt.
Dre Condoleon
3 years ago
Top quality service, Wisam was a pleasure to work with
Jaemin Kim
3 years ago
We have been working with Wisam for years and am very delighted with his services! Most recently, he assisted us with the sale of our Melbourne property and the outcome was great. He is a true professional and is highly communicative with us, answering all our questions thoroughly throughout the process.
Edgi Vega
3 years ago
Always a pleasure working with Wisam. We've used his services on multiple properties on both local and interstate buying and selling and he is always knowledgeable and on point. You know you are in good hands with Optimum Lawyers.
Peter Aliferis
4 years ago
Wisam was incredible from the get go. Very knowledgeable, well priced and extremely prompt and all over every detail and process to allow no issues to occur at all. We will definitely be using Optimum on the next one!
Andrew Christie
4 years ago
Wisam and the team at Optimum lawyers were fantastic to deal with. Was quick and thorough in their responses to questions and to the stress of settlement of our hands. Can thoroughly recommend!
Felicia Rossi
4 years ago
Wisam was very helpful when purchasing my first property, communication was excellent, everything was explained simply & always kept me in the loop. Very knowledgeable solicitor - definitely recommend him to others.
Andrew Theophilou
4 years ago
It's been a pleasure dealing and corresponding with Wisam Assi is he is the best solicitor I have ever worked with. From our first meeting, he explained everything to me in terms I could easily understand and was always very responsive when I had questions outside of our meetings.
If anyone is looking for a knowledgeable solicitor at a great price, then definitely get in contact with Wisam.
Rory Ell
4 years ago
Wissem Assi was absolutely brilliant. Our experience was great! Extremely professional and provided valuable legal advice to us on our family SMSF to ensure we understood the all of the important legal aspects which enabled us to successfully progress and execute complex SMSF property loan documentation with our financial institution.
Robert Kandalaft
4 years ago
Wisam has dealt with quite a few matters for me and has always been so professional with constant communication. He is always on top of everything and diligent in everything he does. Would recommend to friends and family and look forward to continue working together in the future.
Kim Narayan
4 years ago
I have been using Wisam and his team for a number of years. When it comes to off the plan purchases, I wouldn't look anywhere else! Wisam's attention to detail is second to none. He has assisted many of my clients with their property purchases, and in some cases has saved them thousands picking up errors in contracts that other solicitor's hadn't. I would highly recommend Wisam and his team to anyone seeking to purchase or sell a property. Thank you Wisam.
esra inal
4 years ago
I would like to thank Optimum Lawyers and Wisam Assi he was so professional and very helpful I can't explain how warm kind and friendly he was it was my first time buying a property he was taking my call from night to morning he answered all my questions it didn't matter want time it was and showed me step by step and explain very little detail he was amazing thank for Optimum Lawyers and Wisam.
Ahmad
5 years ago
I used Optimum Lawyers for my house purchase, and can say that they provided a professional, responsive and high quality legal service! I will definitely use them again in the future.
wafaa ismael
5 years ago
Wish and his team are very professional and respectful. replying to the emails very quick and make it very easy with the process of the job. I would highly recommend them to anyone and will always use them for my future projects
Keryn Jones
6 years ago
Wisam and his team are diligent, professional and efficient.
I cannot fault the service and would absolutely recommend them.
Thankyou
Anthony Gage
6 years ago
Wisam did a great job and managed the entire process. I was pleasantly surprised by how little I had to do and the regular status updates were great.
Pricing was very reasonable and when the final invoice came it matched what was committed to at the start of the engagement.
I would recommend Optimum Lawyers to anyone looking to use their services.