Buying something together: agreement template
Co-own a purchase: contributions, usage, and how to unwind the sharing.
Free to read, no sign-up needed
Joint Purchase Agreement (template)
Fill in the “◯” blanks. Party A and Party B are the parties (real names and addresses go in the signature block). This is a general example, not legal advice.
Party A and Party B agree to jointly purchase and co-own the item described below (the "Item"). Item: ◯ Purchase price: $◯ Article 1 (Contributions and shares) Of the purchase price, Party A pays $◯ and Party B pays $◯. The parties' shares in the Item are ◯ : ◯. Article 2 (Keeping and use) The Item is kept by ◯, and is used as follows. Usage: ◯ Article 3 (Costs) Costs needed to maintain the Item are borne in proportion to the shares. Article 4 (Damage or loss) If the Item is damaged or lost due to a cause attributable to one party, that party shall repair it at their own cost, or compensate the other party for the value of the other party's share. Article 5 (Ending the co-ownership) If either party proposes to end the co-ownership, the parties will agree on one party buying out the other's share, or on selling the Item and splitting the proceeds in proportion to the shares.
Create an agreement from this template
The creation screen opens with this template filled in. Every party verifies their identity by SMS or photo ID and signs, and the finalized agreement is kept.
Why keep it in Twosure instead of on paper or in a note
- Every party verifies their identity (SMS or photo ID) before signing, so it is harder to claim “I didn’t sign that”.
- Once finalized, it cannot be changed through the app. Share the verification link and a third party can check the content too.
- You don’t have to meet in person: it takes about 5 minutes on a phone.