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.
San Bernardino, California Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legally binding document that outlines the rights and responsibilities of unmarried couples who share a residence and are planning to sell it. This agreement ensures clarity and fairness in the distribution of proceeds from the sale and minimizes potential conflicts and disputes. Keywords: San Bernardino, California, agreement, parties living together, remaining unmarried, distribution of proceeds, sale of residence. There are different types of San Bernardino, California Agreements between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, depending on the specific circumstances and intentions of the parties involved. Some common types include: 1. Basic Agreement: This type of agreement establishes the guidelines for the division and distribution of proceeds between the parties upon the sale of the shared residence. It typically includes provisions such as the percentage or contribution each party will receive, the method of determining the fair market value of the property, and any specific conditions or contingencies. 2. Mortgage Contribution Agreement: In cases where one party contributes a larger portion towards the mortgage or down payment, this type of agreement may be utilized. It outlines the agreed-upon division of proceeds that takes into account the differential amount contributed by each party. 3. Financial Contribution Agreement: This agreement type is suitable when one party has made significant financial contributions towards the maintenance or improvement of the residence. It ensures a fair distribution of proceeds by considering these contributions during the sale. 4. Property Upgrades or Improvements Agreement: If one party has invested more in property upgrades or improvements, this agreement comes into play. It establishes how those investments will be factored into the distribution of proceeds upon sale, ensuring a fair outcome. 5. Rental Income Distribution Agreement: For couples who have been renting out a portion of their residence and generating income, this specific type of agreement determines how the rental income will be divided between the parties upon the sale of the property. It's important for unmarried couples in San Bernardino, California to consult with a qualified attorney to draft an agreement that suits their unique circumstances and addresses all relevant factors for the equitable distribution of proceeds upon the sale of their shared residence.San Bernardino, California Agreement between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence is a legally binding document that outlines the rights and responsibilities of unmarried couples who share a residence and are planning to sell it. This agreement ensures clarity and fairness in the distribution of proceeds from the sale and minimizes potential conflicts and disputes. Keywords: San Bernardino, California, agreement, parties living together, remaining unmarried, distribution of proceeds, sale of residence. There are different types of San Bernardino, California Agreements between Parties Living Together but Remaining Unmarried with Regard to Distribution of Proceeds upon Sale of Residence, depending on the specific circumstances and intentions of the parties involved. Some common types include: 1. Basic Agreement: This type of agreement establishes the guidelines for the division and distribution of proceeds between the parties upon the sale of the shared residence. It typically includes provisions such as the percentage or contribution each party will receive, the method of determining the fair market value of the property, and any specific conditions or contingencies. 2. Mortgage Contribution Agreement: In cases where one party contributes a larger portion towards the mortgage or down payment, this type of agreement may be utilized. It outlines the agreed-upon division of proceeds that takes into account the differential amount contributed by each party. 3. Financial Contribution Agreement: This agreement type is suitable when one party has made significant financial contributions towards the maintenance or improvement of the residence. It ensures a fair distribution of proceeds by considering these contributions during the sale. 4. Property Upgrades or Improvements Agreement: If one party has invested more in property upgrades or improvements, this agreement comes into play. It establishes how those investments will be factored into the distribution of proceeds upon sale, ensuring a fair outcome. 5. Rental Income Distribution Agreement: For couples who have been renting out a portion of their residence and generating income, this specific type of agreement determines how the rental income will be divided between the parties upon the sale of the property. It's important for unmarried couples in San Bernardino, California to consult with a qualified attorney to draft an agreement that suits their unique circumstances and addresses all relevant factors for the equitable distribution of proceeds upon the sale of their shared residence.
