A co-ownership agreement is not binding in the event of the failure of a marriage or de facto relationship. If you want an agreement with your spouse or partner to deal with the unfortunate situation in which you might separate, you should seek legal advice if making a financial agreement is a good thing for you. NOTE: Co-ownership differs from how a husband and wife can hold property as a joint tenant (one spouse`s share is automatically resected on the other spouse in the event of death), but is held as a common tenant, meaning that the share does not automatically pass to death. Condominium can be used for investment property or a house, as well as other assets such as vehicles and aircraft. .