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.
Colorado Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legally binding document that outlines the specific arrangements and agreements made by unmarried couples or individuals living together regarding the distribution of proceeds upon the sale of a shared property in the state of Colorado. This agreement aims to protect the rights and interests of both parties involved in the event of a separation, dissolution of the relationship, or the sale of the residence. There are several types of Colorado Agreements between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, namely: 1. Colorado Cohabitation Agreement: This agreement is drafted by unmarried couples who choose to live together and wish to clarify ownership rights, financial responsibilities, and distribution of proceeds in case the shared residence is sold. It covers various aspects such as property division, mortgage payments, household expenses, and other financial matters. 2. Colorado Joint Ownership Agreement: This agreement is suitable for unmarried individuals who jointly purchase a property and desire a clear distribution of proceeds upon the sale of the residence. It allows the parties to define their respective ownership percentages, the allocation of financial contributions, and outlines the distribution plan for the shared property. 3. Colorado Domestic Partnership Agreement: Designed specifically for couples in a domestic partnership, this agreement addresses the distribution of proceeds upon the sale of the shared residence. It also covers other critical aspects, including asset division, debt allocation, and possible financial obligations towards any children or dependents. 4. Colorado Property Co-Ownership Agreement: This agreement is relevant for parties who acquire a property together and want to establish their respective rights and responsibilities, particularly concerning the distribution of proceeds upon sale. It allows individuals to specify their ownership interests, outline financial contributions, and determine the fair division of proceeds based on their agreed-upon terms. Regardless of the specific type of agreement, it is important to consult with an attorney familiar with Colorado family law to ensure the document accurately reflects the intentions and desires of all involved parties, as well as comply with the relevant legal requirements within the state. The agreement should be signed voluntarily, with full understanding and disclosure, to provide a fair and mutually agreed-upon framework for the distribution of proceeds upon the sale of the shared residence.
