Static caravan share agreement: three or more owners

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

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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 static caravan. The parties may be couples, relatives, friends or unknown to each other. By ‘static caravan’, we mean a self contained accommodation unit which will usually be stationed permanently on a small piece of land, perhaps within a larger caravan site.

We have separate documents for touring caravans – that is, a tow along, accommodation unit and motor homes, the all-in-one vehicle and accommodation unit.

We offer two versions of this static caravan agreement. This document has been drawn for more than two parties. One is for a situation where only two parties share - two individuals or two families, or whatever.

Agreement to share ownership of a Static Caravan: two 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.

This document is different from the document for ownership by only two parties. It provides for exclusive terms to ensure minimum disruption to each party in case the others want to sell their share in the caravan. It also provides for unique terms to ensure proper management of the caravan even where the parties can not decide by mutual agreement.

Note on legal ownership: Even if ownership of your static caravan is registered with some organisation, the particulars will not record the shares in which the static caravan 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 static caravan
  • 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 static caravan
  • Management and common fund: finances control
  • Use of static caravan: 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 static caravan
  • Schedule 2:     The Timetable: plan of who gets the caravan when
  • Schedule 3:     Operating Costs
  • Schedule 4:     The Inventory
  • Schedule 5:     Vote terms
Draftsman

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

NZ-COMsho11 - Static caravan share agreement: three or more owners

 
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