Motor home sharing agreement: three or more owners
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About this document
This is a comprehensive document that deals with the terms of ownership, by three or more parties of a motor home. The parties may be couples, relatives, friends or unknown to each other. By ‘motor home’, we mean a self contained vehicle which has amenities for sleeping, coking, washing and so on.
We have separate documents for a touring caravan – that is, a tow along, accommodation unit. We also have agreements for static motor homes, such as those you might find permanently located at a caravan site.
The document deals extensively with issues like ownership rights of the parties which may be in equal or unequal proportion, the time table and manner of sharing the use of the motor home, responsibilities of each party in maintenance and upkeep of the motor home, various exit options available to each party, the qualification and appointment of the driver of the motor home, and more.
This document is different from the document for ownership of a static caravan because it provides for exclusive terms to ensure minimum discomfort of each party in case the others want to sell their share in the motor home to a third party and exit and also provides for unique terms to ensure proper management of the motor home even in the in case where the parties can not decide by mutual agreement.
Note on legal ownership:
Even if ownership of your Motor Home is registered with some organisation, the particulars will not record the shares in which the Motor Home is held. So if you own 60% and I own 40% we have to record that in some other document. If we do not do so, “the Law” will assume we own in the shares in which we contributed to the purchase price. This may or may not be the same thing. These Net Lawman agreements specifically record the shares. They also record shares which may be owned by someone who is not a registered owner. Such an interest is called a beneficial interest.
Application and features
- Comprehensive fractional ownership document for a Motor Home;
- Sensible and practical provisions for shared ownership;
- Written in plain English;
- Explanatory notes to guide you.
- Summary of agreement;
- Terms of beneficial interest: how will the caravan be owned?;
- Relationship of owners;
- Price and payment for the Motor Home;
- Management and common fund: who is responsible for what;
- Use of Motor Home: personal and or business use;
- Personal possessions: storage location and use;
- Undertakings by the owners;
- Warranties and indemnities;
- Long stop termination date;
- Termination and assignment;
- Other legal paragraphs;
- Schedule 1: Details of the Motor Home;
- Schedule 2: The Timetable: plan of who gets the caravan when;
- Schedule 3: Operating Costs;
- Schedule 4: The Inventory.
This document was written by an attorney for Net Lawman. It complies with current South African law.
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