A party to a nonmarital relationship does not, by reason of cohabitation alone, acquire any rights in the property of the other party acquired during the period of cohabitation. This form is used for a nonmarital relationship where one of the parties own the house that they will be residing.
A Virgin Islands Cohabitation Agreement Between Parties Living Together but Remaining Unmarried with Residence Owned by One of the Parties is a legally binding document that outlines the rights, responsibilities, and expectations of the individuals involved in a cohabiting relationship in the Virgin Islands. This agreement is specifically designed for couples who choose to live together without getting married, and when one party solely owns the residence they share. The primary purpose of this agreement is to establish clear guidelines regarding the use, ownership, and division of assets in the event of a breakup or separation. It ensures that both parties are aware of their rights and obligations while living together and outlines the process for resolving disputes that may arise from the cohabitation. The agreement typically includes provisions such as: 1. Identification of the Parties: The agreement begins by clearly stating the full legal names and contact information of both parties involved. 2. Property Ownership: The agreement specifies that one party owns the residence where both parties will reside together. It outlines the rights and responsibilities of the owner, as well as the rights of the non-owning party regarding the use of the residence. 3. Financial Matters: The agreement addresses financial contributions, expenses, and obligations during the cohabitation period. It establishes how the parties will share or divide costs related to the residence, utilities, mortgages, repairs, and other expenses. 4. Personal Property: This section specifies that personal property brought into the residence by each party remains their individual property. It may also outline how shared personal property will be divided if the relationship ends. 5. Termination or Dissolution: The agreement includes provisions for the termination or dissolution of the cohabitation relationship. It outlines the rights and obligations of both parties in the event of a breakup, including the division of assets and potential arrangements for the non-owning party to vacate the residence. It's important to note that variations of this agreement may exist to accommodate different circumstances or specific needs of the parties involved. For instance, there can be additional provisions related to child custody and support if the couple has children together or provisions related to pets, insurance coverage, and medical decisions. Before signing a Virgin Islands Cohabitation Agreement Between Parties Living Together but Remaining Unmarried with Residence Owned by One of the Parties, it is strongly recommended that both parties seek legal advice to ensure their interests are protected and that the agreement complies with the laws of the Virgin Islands.
