It is important that an unmarried couple, a group of friends or a family of businessmen whose goal is to become co-owners of a particular property uses a property contract. They normally use this agreement in cases where two or more people wish to become owners of the same property. However, this type of provision is not limited to real estate, but also applies to other personal real estate such as works of art, antiques, boats, vehicles, shares and more. It is the agreement that establishes and controls the relationship between the co-owners in the event of a subsequent conflict. Note that a person`s ownership gives the right to own valuable property under the protection of the law. The special conditions for termination of the contract are set out in the later part of the agreement.