Parties agree in this form that if the Residence is ever sold, the party who paid the down payment and closing costs when the Residence was originally purchased should be reimbursed from the net sales proceeds first. Consideration should be given to recording this Agreement with the appropriate county clerk and recorder of deeds.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legal document designed to protect the rights and interests of individuals who choose to cohabit ate without marriage. This agreement outlines the specific terms and conditions that will govern the distribution of proceeds from the sale of a shared residence in the event of a breakup or separation. Key provisions in the Maricopa Arizona Agreement include: 1. Property Ownership: The agreement clearly defines the ownership rights of each party in the shared residence. This includes specifying the percentage or division of ownership and any contributions made towards the purchase or maintenance of the property. 2. Distribution of Proceeds: The agreement outlines how the proceeds from the sale of the residence will be divided among the parties. This may be based on their ownership percentages or as per a separate agreed-upon allocation. 3. Capital Improvements: The agreement addresses any capital improvements made by the parties during their cohabitation. It establishes whether one party will be reimbursed for these improvements or if they will be factored into the distribution of proceeds. 4. Mortgage and Expenses: The document clarifies the responsibilities of each party towards mortgage payments, property taxes, utilities, and other expenses associated with the residence. It may outline a specific arrangement or allocate the responsibilities based on ownership percentages. 5. Dispute Resolution: The agreement includes provisions for resolving disputes that may arise related to the distribution of proceeds or other matters covered in the document. It may specify mediation, arbitration, or court litigation as the preferred method of resolution. In Maricopa Arizona, there are two main types of agreements tailored to the specific living arrangements of the parties: 1. Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence — Sole Ownership: This type of agreement is used when one party solely owns the residence, but the couple decides to live together. The agreement establishes the distribution of proceeds between the owner and the non-owner based on their agreed-upon terms. 2. Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence — Joint Ownership: This agreement is used when both parties have joint ownership of the residence. It addresses the distribution of proceeds based on their ownership percentages, contributions, and any other agreed-upon terms. These legal agreements provide clarity and protection to unmarried individuals who choose to live together, offering them the ability to define their financial rights and obligations in the event of a separation or the sale of the shared residence. It is important to consult with a legal professional to ensure the agreement reflects the specific needs and circumstances of the parties involved.Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legal document designed to protect the rights and interests of individuals who choose to cohabit ate without marriage. This agreement outlines the specific terms and conditions that will govern the distribution of proceeds from the sale of a shared residence in the event of a breakup or separation. Key provisions in the Maricopa Arizona Agreement include: 1. Property Ownership: The agreement clearly defines the ownership rights of each party in the shared residence. This includes specifying the percentage or division of ownership and any contributions made towards the purchase or maintenance of the property. 2. Distribution of Proceeds: The agreement outlines how the proceeds from the sale of the residence will be divided among the parties. This may be based on their ownership percentages or as per a separate agreed-upon allocation. 3. Capital Improvements: The agreement addresses any capital improvements made by the parties during their cohabitation. It establishes whether one party will be reimbursed for these improvements or if they will be factored into the distribution of proceeds. 4. Mortgage and Expenses: The document clarifies the responsibilities of each party towards mortgage payments, property taxes, utilities, and other expenses associated with the residence. It may outline a specific arrangement or allocate the responsibilities based on ownership percentages. 5. Dispute Resolution: The agreement includes provisions for resolving disputes that may arise related to the distribution of proceeds or other matters covered in the document. It may specify mediation, arbitration, or court litigation as the preferred method of resolution. In Maricopa Arizona, there are two main types of agreements tailored to the specific living arrangements of the parties: 1. Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence — Sole Ownership: This type of agreement is used when one party solely owns the residence, but the couple decides to live together. The agreement establishes the distribution of proceeds between the owner and the non-owner based on their agreed-upon terms. 2. Maricopa Arizona Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence — Joint Ownership: This agreement is used when both parties have joint ownership of the residence. It addresses the distribution of proceeds based on their ownership percentages, contributions, and any other agreed-upon terms. These legal agreements provide clarity and protection to unmarried individuals who choose to live together, offering them the ability to define their financial rights and obligations in the event of a separation or the sale of the shared residence. It is important to consult with a legal professional to ensure the agreement reflects the specific needs and circumstances of the parties involved.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
