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.
Miami-Dade County, Florida, has a specific agreement known as the "Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence." This agreement is designed to protect the rights and interests of unmarried couples living together and jointly owning property in Miami-Dade County. The purpose of the Miami-Dade Agreement is to establish clear guidelines regarding the distribution of proceeds from the sale of a jointly owned residence when the couple decides to part ways. This agreement is particularly important for couples who are not legally married but have made significant financial contributions to the shared property. The agreement addresses various important aspects related to the jointly owned residence. It outlines the specific percentage or division of proceeds each party will receive upon the sale of the property, based on their individual contributions and ownership shares. The agreement also considers factors such as mortgage payments, property taxes, and other financial responsibilities. By providing a comprehensive framework for the distribution of proceeds, the Miami-Dade Agreement helps prevent potential disputes or conflicts between parties involved. It ensures a fair and equitable distribution of financial assets when the couple decides to sell the shared residence. In Miami-Dade County, there may be various types of agreements falling under the category of "Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence." These agreements can be personalized according to the unique circumstances and preferences of the couple involved. Some potential types of agreements may include: 1. Basic Agreement: This agreement establishes the ownership percentages and outlines the method of distribution of proceeds in a straightforward manner. It considers the financial contributions made by each party to determine their respective interests. 2. Mortgage Sharing Agreement: In cases where both parties jointly hold the mortgage, this agreement specifies how mortgage payments will be split and how it affects the distribution of proceeds upon sale. 3. Post-Purchase Investment Agreement: If one party makes significant improvements or investments into the property after its purchase, this agreement outlines the proportionate share of those investments that should be considered during the sale of the property. 4. Cohabitation Expenses Agreement: This type of agreement covers the distribution of expenses related to the property, such as property taxes, utility bills, or maintenance costs. It also addresses how these expenses impact the distribution of proceeds. 5. Termination Agreement: In the event of the termination of the cohabitation or relationship, this agreement lays out the guidelines for the distribution of proceeds from the sale of the jointly owned residence, along with other pertinent matters such as possession and division of personal property. Overall, the Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence offers a reliable legal framework to protect the rights and interests of unmarried couples in Miami-Dade County. It ensures a fair and transparent distribution of financial assets, minimizing the potential for disputes and conflicts between parties.Miami-Dade County, Florida, has a specific agreement known as the "Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence." This agreement is designed to protect the rights and interests of unmarried couples living together and jointly owning property in Miami-Dade County. The purpose of the Miami-Dade Agreement is to establish clear guidelines regarding the distribution of proceeds from the sale of a jointly owned residence when the couple decides to part ways. This agreement is particularly important for couples who are not legally married but have made significant financial contributions to the shared property. The agreement addresses various important aspects related to the jointly owned residence. It outlines the specific percentage or division of proceeds each party will receive upon the sale of the property, based on their individual contributions and ownership shares. The agreement also considers factors such as mortgage payments, property taxes, and other financial responsibilities. By providing a comprehensive framework for the distribution of proceeds, the Miami-Dade Agreement helps prevent potential disputes or conflicts between parties involved. It ensures a fair and equitable distribution of financial assets when the couple decides to sell the shared residence. In Miami-Dade County, there may be various types of agreements falling under the category of "Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence." These agreements can be personalized according to the unique circumstances and preferences of the couple involved. Some potential types of agreements may include: 1. Basic Agreement: This agreement establishes the ownership percentages and outlines the method of distribution of proceeds in a straightforward manner. It considers the financial contributions made by each party to determine their respective interests. 2. Mortgage Sharing Agreement: In cases where both parties jointly hold the mortgage, this agreement specifies how mortgage payments will be split and how it affects the distribution of proceeds upon sale. 3. Post-Purchase Investment Agreement: If one party makes significant improvements or investments into the property after its purchase, this agreement outlines the proportionate share of those investments that should be considered during the sale of the property. 4. Cohabitation Expenses Agreement: This type of agreement covers the distribution of expenses related to the property, such as property taxes, utility bills, or maintenance costs. It also addresses how these expenses impact the distribution of proceeds. 5. Termination Agreement: In the event of the termination of the cohabitation or relationship, this agreement lays out the guidelines for the distribution of proceeds from the sale of the jointly owned residence, along with other pertinent matters such as possession and division of personal property. Overall, the Miami-Dade Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence offers a reliable legal framework to protect the rights and interests of unmarried couples in Miami-Dade County. It ensures a fair and transparent distribution of financial assets, minimizing the potential for disputes and conflicts between parties.
