Answer first
Co-owners should document who can approve budgets, repairs, rentals, borrowing, sale, occupancy and emergency action before a disagreement occurs.
Which decisions need unanimous approval?
- sale;
- mortgage;
- long lease;
- major renovation;
- change of use.
Which decisions can be delegated?
- routine maintenance;
- tenant communication;
- bill payment;
- emergency mitigation;
- record keeping.
How should deadlock be resolved?
- written notice;
- meeting;
- independent valuation;
- mediation;
- sale or buyout process.
Where should you continue your research?
Agree on decision rights before buying.
Document voting thresholds, delegation and deadlock procedures.
Explore owner resourcesFrequently asked questions
Should every decision require unanimity?
Not necessarily. The agreement should define thresholds by decision type.
Can one co-owner rent the property alone?
Authority should be stated in the ownership and co-owner agreements.
How should emergencies be handled?
Set a spending limit, notice procedure and documentation rule.
Sources & References
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Founder of BAANLYY · International real estate broker, investor & relocation specialist
Last updated 15 July 2026 · Last reviewed 15 July 2026