• US Legal Forms

New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence

State:
Multi-State
Control #:
US-01849BG
Format:
Word; 
Rich Text
Instant download

Description

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.

The New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legal document that outlines the rights and responsibilities of individuals who cohabit and jointly own a property while not being married. This agreement is designed to address the distribution of proceeds from the sale of the shared residence in an equitable manner, ensuring that both parties are treated fairly. Keywords: New York Agreement, Parties Living Together, Unmarried, Distribution of Proceeds, Sale of Residence. There are various types of New York Agreements between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, tailored to meet the specific needs and circumstances of the couple involved. Here are a few notable examples: 1. Simple Distribution Agreement: This type of agreement is suitable for couples who have an equal ownership share in the property and desire a straightforward division of proceeds upon sale. It typically outlines that each party will receive an equal percentage of the net proceeds. 2. Proportional Contribution Agreement: In cases where one party has contributed a larger share of the property's purchase price or ongoing expenses, this agreement ensures that the distribution of proceeds reflects their respective contributions. The document may specify the percentage of proceeds each individual receives based on their proportional investment. 3. Capital Improvement Agreement: If one party has made substantial investments in home improvements or renovations, this agreement secures their right to recoup a portion of those expenses upon the sale of the residence. It outlines the distribution of proceeds that considers the proportional contribution towards enhancing the property's value. 4. Time-based Ownership Agreement: In instances where one party has lived in the shared residence for a longer duration than the other, this agreement acknowledges the time-based equity. It may specify that the individual's portion of the proceeds increases incrementally for each year of residence, ensuring a fair distribution when the property is sold. 5. Pre-determined Buyout Agreement: This type of agreement allows one party to buy out the other's share in the property if they decide to sell. It outlines the terms for determining the buyout price, taking into account factors such as the property's appraised value, outstanding mortgage, and any other relevant considerations. It is important for couples cohabiting but remaining unmarried to consult with legal professionals experienced in real estate and family law to ensure their specific needs and interests are addressed while drafting a New York Agreement with regard to Distribution of Proceeds upon Sale of Residence.

The New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legal document that outlines the rights and responsibilities of individuals who cohabit and jointly own a property while not being married. This agreement is designed to address the distribution of proceeds from the sale of the shared residence in an equitable manner, ensuring that both parties are treated fairly. Keywords: New York Agreement, Parties Living Together, Unmarried, Distribution of Proceeds, Sale of Residence. There are various types of New York Agreements between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, tailored to meet the specific needs and circumstances of the couple involved. Here are a few notable examples: 1. Simple Distribution Agreement: This type of agreement is suitable for couples who have an equal ownership share in the property and desire a straightforward division of proceeds upon sale. It typically outlines that each party will receive an equal percentage of the net proceeds. 2. Proportional Contribution Agreement: In cases where one party has contributed a larger share of the property's purchase price or ongoing expenses, this agreement ensures that the distribution of proceeds reflects their respective contributions. The document may specify the percentage of proceeds each individual receives based on their proportional investment. 3. Capital Improvement Agreement: If one party has made substantial investments in home improvements or renovations, this agreement secures their right to recoup a portion of those expenses upon the sale of the residence. It outlines the distribution of proceeds that considers the proportional contribution towards enhancing the property's value. 4. Time-based Ownership Agreement: In instances where one party has lived in the shared residence for a longer duration than the other, this agreement acknowledges the time-based equity. It may specify that the individual's portion of the proceeds increases incrementally for each year of residence, ensuring a fair distribution when the property is sold. 5. Pre-determined Buyout Agreement: This type of agreement allows one party to buy out the other's share in the property if they decide to sell. It outlines the terms for determining the buyout price, taking into account factors such as the property's appraised value, outstanding mortgage, and any other relevant considerations. It is important for couples cohabiting but remaining unmarried to consult with legal professionals experienced in real estate and family law to ensure their specific needs and interests are addressed while drafting a New York Agreement with regard to Distribution of Proceeds upon Sale of Residence.

Free preview
  • Form preview
  • Form preview
  • Form preview

How to fill out New York Agreement Between Parties Living Together But Remaining Unmarried With Regard To Distribution Of Proceeds Upon Sale Of Residence?

Discovering the right lawful document web template could be a have a problem. Needless to say, there are a variety of templates accessible on the Internet, but how will you obtain the lawful type you will need? Use the US Legal Forms internet site. The support gives a huge number of templates, for example the New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, which can be used for enterprise and private needs. All the forms are examined by specialists and meet up with state and federal needs.

Should you be presently listed, log in to your bank account and then click the Down load switch to find the New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence. Utilize your bank account to appear throughout the lawful forms you may have purchased in the past. Check out the My Forms tab of your respective bank account and have one more duplicate from the document you will need.

Should you be a fresh user of US Legal Forms, allow me to share basic directions that you can adhere to:

  • Very first, ensure you have chosen the appropriate type for the area/state. You may check out the form utilizing the Review switch and study the form information to guarantee it will be the right one for you.
  • If the type fails to meet up with your requirements, use the Seach area to discover the right type.
  • When you are positive that the form is suitable, click on the Purchase now switch to find the type.
  • Opt for the rates strategy you need and type in the needed information. Create your bank account and pay money for the transaction with your PayPal bank account or charge card.
  • Select the file file format and acquire the lawful document web template to your system.
  • Total, revise and printing and signal the acquired New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence.

US Legal Forms will be the most significant library of lawful forms for which you will find various document templates. Use the company to acquire expertly-created documents that adhere to status needs.

Trusted and secure by over 3 million people of the world’s leading companies

New York Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence