A joint tenancy contract is a tenancy document drafted when two individuals or two organizations take a property on rent together. The property is shared by more than one party and they are jointly responsible for paying the rent. These types of contracts provides the details of the parties involved, states how both the parties would share the rent among each other and other terms and conditions agreed between the parties.
Sample Joint Tenancy Contract
Joint tenancy contract number: JT 67
Effective date of contract: 4th of July 2011
This joint tenancy contract has been drafted and entered between Ricky Martin residing at 56 Tyler Level Street, Sin City, Colorado 7245 referred to as the tenant 1 and Bob Lee residing at 73 High Level Street, referred to as the tenant 2. As per the contract and Rental Laws of the State of Colorado, both tenant 1 and tenant 2 have agreed to share a property as godown on rent for the products manufactured by the organization that they run on a partnership basis.
Details of the property which is taken on rent:
Address: 45 West Bridge Road,
Sin City, Colorado 7267
Total area: Three thousand square feet
The contract is valid till 4th of July 2013. Both the tenants have agreed to share the rental amount of $1000 on an equal basis. Tenant 1 will be paying forty percent of the deposit amount, whereas tenant 2 will be sixty percent of the deposit amount.
Signature of tenant 1: Signature of tenant 2:
Ricky Martin Bob Lee