Form and features of a family agreement
A family agreement may take many forms, such as a deed of family arrangement, a co-ownership agreement in relation to sharing possession of particular property, a ‘granny-flat’ type of agreement, a loan agreement, or a care and residence agreement (Lewis 2009). They need to be structured appropriately (see Drafting checklist), and should include a dispute resolution section.
It is important to communicate the binding nature of family agreements, and that the parties each need to get independent legal advice.
Family agreements should be properly witnessed. It is prudent to require the signature of two witnesses and also certificates from solicitors evidencing independent legal advice.
Download a Sample Family Agreement (PDF).