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.
Florida Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence serves as a legally binding contract that outlines the distribution of proceeds upon the sale of a shared residence for unmarried couples in the state of Florida. This agreement offers a sense of security and clarity for individuals who choose to live together without getting married, ensuring fair division of assets and protection of each party's interests in the event of a break-up or sale of the property. The content of this agreement may vary depending on the specific preferences and needs of the parties involved. However, some common elements that can be included in a Florida agreement are: 1. Property Ownership: The agreement should clearly state the percentage of ownership each party has in the shared residence. This establishes the basis for the distribution of proceeds upon sale. 2. Financial Contributions: It is important to outline the financial contributions made by each party towards purchasing or maintaining the property. This can include initial down payments, mortgage payments, property taxes, utilities, repairs, and improvements. 3. Dispute Resolution: The agreement should establish a framework for resolving disputes that may arise during the sale process or division of proceeds. It can include provisions for mediation or arbitration as a means to avoid costly and time-consuming litigation. 4. Distribution of Proceeds: This section specifies how the proceeds from the sale of the residence will be divided between the parties based on their ownership percentages. It can also address any outstanding debts or loans related to the property that need to be paid off first. 5. Sale Arrangements: The agreement may detail the steps and procedures involved in the sale of the property, including selecting a real estate agent, deciding on the listing price, and establishing a timeline for the sale. Different types of Florida agreements between parties living together but remaining unmarried may include variations in how ownership percentages are determined, the level of financial contributions required from each party, or specific clauses tailored to individual circumstances, such as provisions for changes in ownership over time or conditions for one party to buy out the other's share. Overall, a Florida Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence aims to provide a clear framework for property ownership and the distribution of proceeds upon sale, reducing the potential for conflicts and offering legal protection for unmarried couples in the state of Florida.Florida Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence serves as a legally binding contract that outlines the distribution of proceeds upon the sale of a shared residence for unmarried couples in the state of Florida. This agreement offers a sense of security and clarity for individuals who choose to live together without getting married, ensuring fair division of assets and protection of each party's interests in the event of a break-up or sale of the property. The content of this agreement may vary depending on the specific preferences and needs of the parties involved. However, some common elements that can be included in a Florida agreement are: 1. Property Ownership: The agreement should clearly state the percentage of ownership each party has in the shared residence. This establishes the basis for the distribution of proceeds upon sale. 2. Financial Contributions: It is important to outline the financial contributions made by each party towards purchasing or maintaining the property. This can include initial down payments, mortgage payments, property taxes, utilities, repairs, and improvements. 3. Dispute Resolution: The agreement should establish a framework for resolving disputes that may arise during the sale process or division of proceeds. It can include provisions for mediation or arbitration as a means to avoid costly and time-consuming litigation. 4. Distribution of Proceeds: This section specifies how the proceeds from the sale of the residence will be divided between the parties based on their ownership percentages. It can also address any outstanding debts or loans related to the property that need to be paid off first. 5. Sale Arrangements: The agreement may detail the steps and procedures involved in the sale of the property, including selecting a real estate agent, deciding on the listing price, and establishing a timeline for the sale. Different types of Florida agreements between parties living together but remaining unmarried may include variations in how ownership percentages are determined, the level of financial contributions required from each party, or specific clauses tailored to individual circumstances, such as provisions for changes in ownership over time or conditions for one party to buy out the other's share. Overall, a Florida Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence aims to provide a clear framework for property ownership and the distribution of proceeds upon sale, reducing the potential for conflicts and offering legal protection for unmarried couples in the state of Florida.
