Motor home share agreement: two owners

Comprehensive agreement of the terms and conditions for the shared (fractional) ownership of a motor home between two parties.

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About this document

This is a comprehensive document that deals with the terms of ownership, by two parties, who may be relatives, friends or unknown to each other, of a motor home. 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.

We offer two versions of this motor home agreement.  One is for a situation where only two parties share - two individuals or two families, or whatever. The other is designed for more than two parties.

Agreement to share ownership of Motor home - three or more owners.

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.

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

Contents

  • 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
  • Accessories
  • Personal possessions: storage location and use
  • Undertakings by the owners
  • Warranties and indemnities
  • Long stop termination date
  • Termination and assignment
  • Confidentiality
  • 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
Draftsman

This document was written by a solicitor for Net Lawman. It complies with current New Zealand law.

NZ-COMsho14 - Motor home share agreement: two owners

 
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