As housing prices have increased, the idea of a single person being able to afford to buy their own home has become increasingly far-fetched – and that of purchasing property with a friend or family member more common.
Podproperty is an Australian business that is attempting to take advantage of that trend by providing property services that are specifically designed for group-property purchasing. Purchasing property with another person – particularly if they are not a long-term partner – raises particular legal issues. PodProperty specialises in dealing with these by providing the requisite co-ownership advice, agreements, conveyancing and arranges group finance.
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Podproperty says it will draft a co-ownership agreement for $350, plus legal advice and drafting for $250 per hour and conveyancing for up to $1500 plus disbursements. Most importantly, they say they will draft a binding co-ownership that will clearly set out each person’s rights and responsibilities – vital to avoid a disaster if the relationship breaks down.