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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 Unmarried Distribution

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.

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Together Unmarried Form popularity

Parties Proceeds Sale Other Form Names

Agreement Living Together   Agree Includes Arbitration   Unmarried Residence Agreement   Unmarried   Agreement Living Together Contract   Living Proceeds Sale Residence   Together Unmarried Residence  

Living Together Unmarried FAQ

Cohabitation agreements are legally binding contracts, provided that they are drafted and executed properly, and are signed as a deed. It is therefore essential to obtain legal advice before preparing an agreement.

Cohabitation agreements are similar contracts for unmarried spouses. These contracts allow you to make legal decisions about your rights in a relationship and decide how you want to arrange your finances if your relationship ends.

Cohabitation is an arrangement where two people are not married but live together. They are often involved in a romantic or sexually intimate relationship on a long-term or permanent basis.More broadly, the term cohabitation can mean any number of people living together.

In both types of agreements, the disclosure requirements are onerous but necessary. Full disclosure includes things such as income tax returns, pay stubs, banks account and credit card statements, RRSP/investment statements and a statutory declaration of all income, assets and debts, among others.

Split ownership costs fairly until the house sells until the property sells. The amount owed by each party is typically split by the percentage of ownership. If you own 50%, and your two co-owners each own 25%, then you'll need to cover half of all housing expenses while your co-owners split the remainder.

If a cohabiting couple splits up, they do not have the same legal rights to property as a married couple. In general, unmarried couples can't claim ownership of each other's property in the event of a breakup. This applies to big investments (such as a house) and smaller items (such as furniture).

Cohabitation is an arrangement where two people are not married but live together.

Example of Cohabitation Two single people meet at a university and live together to save on expenses and have a sexual relationship.

Sell the home and both of you move out. Arrange for one of you to buy the other out. Keep the home and not change who owns it. Transfer part of the value of the property from one partner to the other so that your children have somewhere to live.

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