Published 16 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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You can buy a home with a friend or family member in Ontario as joint tenants, where the survivor inherits automatically, or as tenants in common, where each owns a defined share that passes through their estate. Both usually sign the mortgage and are each fully liable for it. Put a written co-ownership agreement in place covering contributions, costs, and how one person exits.
Joint tenants vs tenants in common
| Joint tenants | Tenants in common | |
|---|---|---|
| Ownership shares | Equal | Can be unequal, e.g. 60/40 |
| If one owner dies | Survivor takes the whole property | Share passes under the will or estate |
| Common for | Spouses | Friends, siblings, parent-child investments |
| Selling a share | Can sever the joint tenancy | Share can be dealt with separately, subject to agreement |
The mortgage
Lenders usually require every owner on title to be on the mortgage, and each borrower is responsible for the full debt if the other stops paying. Lenders qualify you on combined income and debts under the stress test.
Rebates and taxes
First-time buyer land transfer tax refunds depend on each buyer’s eligibility, and the refund can be reduced if not every buyer qualifies. The principal residence exemption applies per owner based on their own use. Get advice from your lawyer and accountant. See land transfer tax and rebates.
Check your combined budget
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What a co-ownership agreement should cover
- Each person’s down payment and share.
- How mortgage, tax, insurance, fees and repairs are split.
- Who lives there and rent if one does not.
- What happens on separation, marriage, death or job loss.
- Buyout formula, notice period and valuation method.
- How disputes are resolved.
Without one, a disagreement can end up under the Partitions Act. See when a co-owner will not sell.
Where I fit
I am Jatin Dua, Broker of Record at RE/MAX Quantum Realty. I help co-buyers across Toronto and the GTA find homes that work for both parties and coordinate with lawyers on title and agreements.
The takeaway
Co-buying in Ontario works best when title, mortgage responsibility, rebates and exit terms are settled in writing before you buy. Choose joint tenancy or tenancy in common deliberately, and have a lawyer draft a co-ownership agreement.
Talk it through with me
Buying with someone else?
Tell me who is buying, your combined budget and area. I will send a price range and the questions to settle first.
I will come back to you personally, usually the same day. If it is urgent, call or text 833-330-1925.
Frequently asked questions
Can I buy a house with a friend in Ontario?
Yes, as joint tenants or tenants in common, usually with both on the mortgage and a written co-ownership agreement.
What is the difference between joint tenants and tenants in common?
Joint tenants own equally and the survivor inherits; tenants in common can own unequal shares that pass through each owner’s estate.
Are both co-owners responsible for the mortgage?
Usually yes, each borrower is responsible for the full mortgage.
Can co-buyers get the first-time buyer rebate?
Eligibility is assessed per buyer, and the refund may be reduced if not all buyers qualify.
What if a co-owner wants to sell?
Follow your co-ownership agreement. Without one, a court application under the Partitions Act may be possible.
Do I need a lawyer to buy with a friend?
Strongly recommended for title and a co-ownership agreement.
Sources
- Ontario — land transfer tax refunds for first-time buyers — the Ontario first-time buyer refund of up to $4,000. Accessed 16 September 2026.
- Financial Consumer Agency of Canada — mortgages — consumer guidance on qualifying, down payments and mortgage insurance. Accessed 16 September 2026.
- Canada Revenue Agency — principal residence — principal residence exemption and the requirement to report the sale. Accessed 16 September 2026.
Related reading
- Gifted Down Payment Ontario: Gift Letter Rules and What Lenders Need (2026)
- When a co-owner will not sell
- Best realtor for first-time buyers
- How much home can you afford?
- Deposit vs down payment
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, with deep local knowledge of the west end. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from RECO or Ontario legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.