A Joint Real Estate Ownership Agreement (JREOA) is a contract between two or more parties that establishes their shared ownership and financial responsibility for a piece of real estate. JREOAs are used to define the legal rights and responsibilities of each co-owner with regards to ownership, management, maintenance, and any future sale of the property. The agreement also outlines how costs should be distributed among the owners and who will have control over decision-making related to the property. A carefully written JREOA can help avoid potential miscommunication, confusion, and disputes in the future.