The Property Agreement For Unmarried Couples serves as a crucial legal framework for unmarried individuals sharing property interests in the United States. This document becomes essential when couples choose to cohabitate or jointly purchase property without the legal protections automatically granted through marriage. It addresses various aspects including property ownership percentages, financial responsibilities, maintenance obligations, and exit strategies. The agreement helps prevent future disputes by clearly documenting both parties' intentions and expectations regarding their shared property interests. State-specific property laws and local regulations must be considered when drafting this agreement to ensure enforceability.
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1. Parties: Identification and details of both parties entering into the agreement
2. Background: Context of the relationship and property ownership situation
3. Definitions: Key terms used throughout the agreement
4. Property Ownership: Details of property ownership structure and percentages
5. Financial Contributions: Agreement on sharing of expenses and financial responsibilities
6. Property Management: Decision-making process for property-related matters
7. Termination: Process for ending the agreement and dividing property
1. Death Provisions: Rights and procedures upon death of either party
2. Future Property Acquisition: Rules for handling future joint property purchases
3. Mortgage Responsibilities: Allocation of mortgage payments and obligations
4. Dispute Resolution: Procedures for resolving disagreements
1. Schedule A - Property Details: Detailed description of the property including legal description
2. Schedule B - Financial Contributions: Detailed breakdown of initial and ongoing financial contributions
3. Schedule C - Property Inventory: List of personal property and their agreed ownership
4. Schedule D - Maintenance Schedule: Agreed maintenance responsibilities and cost sharing
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