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Cohabitation Agreement

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Cohabitation Agreement Powered By Docstoc
					A cohabitation agreement is intended for use by non-married couples who are living
together or who have chosen to live together. This agreement provides for the sharing
of living expenses, the division of joint property upon termination of the relationship; and
the retention of separate property acquired prior to, and after, the execution of this
agreement. This agreement regulates the cohabitants' property rights and what
arrangements might be made for mutual financial support, dealing with debt, caring for
children, etc. A written cohabitation agreement can help ensure that the cohabitants are
aware of what is expected of them and further helps in the event of a dispute and can
assist the mediators, counsel or arbitrators in arriving at important decisions.
                         COHABITATION AGREEMENT
This Cohabitation Agreement (“Agreement”) made this __________________ day of
_________________, ___,



Between:



________________________________________________ (the "First Party") and



________________________________________________ (“Second Party")
individually referred to as “Cohabitant” and jointly referred to as “Cohabitants”.


RECITALS

A.     WHEREAS the Cohabitants are presently residing [or intend to live together]
with each other at ________________________________________[
Address]______________________, have been doing so since _______________[ Year
of cohabitation]__________ and intend to continue living together in this arrangement;
B.     WHEREAS, the Cohabitants wish to establish their respective rights and
responsibilities regarding each other's income and property and the income and property
that may be acquired, either separately or together, during the period of cohabitation;
C.     WHEREAS the Cohabitants each acknowledge that they enter into this
Agreement voluntarily, without any duress or undue influence, and that each has had the
opportunity to seek independent legal and financial advice.

THE COHABITANTS HEREBY AGREE:

1. No Marriage under Common Law. It is hereby agreed that cohabitation of the
Cohabitants shall in no way render the Cohabitants married, by operation of common law
or any other operation of law.

2. Financial Disclosure. Each Cohabitant warrants to the other that such Cohabitant has
made full and complete disclosure to the other of all financial assets and liabilities. Each
party has attached a balance sheet to this Agreement referred to as Exhibit D, indicating
his/her current assets and liabilities with the understanding that this balance sheet reflects
his/her current financial status to the best of his/her ability.



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3. Division of Expenses. Cohabitants agree that all each of them will contribute toward
necessary living expenses in the following manner:

The First Party shall contribute _____________ percent (____ %) per month;

The Second Party shall contribute _____________ percent (____ %) per month.

OR (Alternative provision)

Cohabitants hereby agree to divide their contribution for necessary household expenses
in accordance to the Schedule 1 (“Expenses Contribution”) attached to this Agreement.

4. No Claim on Income. Further, Cohabitants agree that the income of each party, as
well as any accumulations of property from that income, belongs absolutely to the person
who earns such income.

5. Bank Accounts; Debts. It is further agreed that Cohabitants shall keep their respective
bank accounts, credit accounts, etc., and neither is in any way responsible for the debts of
the other. [OR ADD: Notwithstanding the foregoing, if both Cohabitants are
contributing to the debt repayment on a property owned by one party, they may agree
that any increase in equity during the period of cohabitation will be fairly divided
between them]

6. Joint Bank Account. Cohabitants may from time to time decide to maintain a joint
checking or savings accounts. In such an event, the Cohabitants shall deposit their pro
rata contributions monthly into the joint checking or savings accounts of the Cohabitants.
Either Cohabitant may draw upon this checking account. Any property purchased from
this checking account shall be considered joint property of the Cohabitants, owned
according to the respective Cohabitant's percentage of contribution stated above.

7. Jointly Owned Property. Any joint ownership acquired by Cohabitants shall be
reflected in writing on Exhibit C attached to this Agreement or shall be reflected on the
ownership document of the property. If either Cohabitant fails to otherwise provide in
writing for the disposition of the jointly owned property, should they separate,
Cohabitants agree to divide the jointly held property equally. Such agreements shall not
be interpreted as creating an implication that other properties are jointly owned.

8. Waiver. Each Cohabitant hereby waives the following rights:

(a) To the other Cohabitant’s earnings, salary or wages acquired before or after the
execution of this Agreement;

(b) To the other Cohabitant’s gifts, bequests, devises or inheritances acquired before or
after the execution of this Agreement;




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(c) All property, real or personal, owned by the other Cohabitant at the date of execution
of this Agreement;

(d) All income or proceeds derived from the any such properties.

(e) To share in each other's estates upon their death.

(f) To "palimony" or other forms of support or maintenance, both temporary and
permanent.

(g) To share in the increase in value during the period of cohabitation of the separate
property of the Cohabitants.

(h) To share in the pension, profit sharing, or other retirement accounts of the other.

(i) To the division of the separate property of the Cohabitants, whether currently held or
hereafter acquired.



9. Commingled Property. Notwithstanding Section 7, in the event either Cohabitant
commingles joint property with separate property, any commingled property shall be
presumed to be joint property of the Cohabitants.

10. Division of Joint Property. Upon termination of this Agreement or termination of
the cohabitation, all jointly owned property shall be divided among the Cohabitants
according to their pro rata share listed above. If the Cohabitants are unable to agree on
the appropriate division of joint property, they may appoint an independent and mutually
agreed upon third person to act as Appraiser. The Appraiser shall divide the property
among the Cohabitants according to his/her pro rata share.

11. Termination of this Agreement. Either Cohabitant may terminate this contract by
giving the other a one-week written notice if the event either of the Cohabitants is
seriously considering leaving or ending the relationship or ending the cohabitation .
Should such situation arise, Cohabitants also agree to at least one counseling session if
either one of them requests it. This Agreement will become null and void and upon the
legal marriage of the Cohabitants.

12. Duty of Good Faith. This Agreement creates a fiduciary relationship between the
Cohabitants in which each Cohabitant agrees to act with the utmost of good faith and fair
dealing toward the other in the management of their joint property and in all other aspects
of this Agreement.

13. Legal Names of Cohabitants. Each Cohabitant shall retain his/her legal name,
including surname, as printed and signed in this Agreement.




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14. Death of Cohabitant. Upon the death of either Cohabitant, the surviving Cohabitant
waives all rights to support by the deceased Cohabitant. This Agreement shall be
terminated upon the death of one of the Cohabitants.

15. Entire Agreement. This Agreement constitutes the full and complete agreement
between the Cohabitants regarding their cohabitation. There are no other agreements
between the Cohabitants regarding their cohabitation other than those stated herein. This
Agreement shall only be modified by a writing executed by both Cohabitants hereto.

16. Severability. In the event it is determined that a provision of this agreement is
invalid because it is contrary to applicable law, that provision is deemed separable from
the rest of the agreement, such that the remainder of the agreement remains valid and
enforceable..

17. Governing Law; Dispute Resolution. This Agreement shall be governed by,
interpreted and construed in accordance with the laws of the State of
___________________________.

18. Arbitration. Cohabitants agree that any dispute arising out of this contract shall be
arbitrated under the terms of this Clause. If Cohabitants both choose, Cohabitants shall
first try to resolve the dispute with the help of mutually agreeable mediator(s). Otherwise,
either one of them may:

(a) Initiate arbitration by making a written demand for arbitration, defining the dispute
and choosing and naming one arbitrator;

(b) Within five days from receipt of this notice, the other shall name the second
arbitrator;

(c) The two named arbitrators shall within ten days name a third arbitrator;

(d) Within seven days an arbitration meeting will be held. Each of them may have
counsel if Cohabitants choose, and may present evidence and witnesses pertinent;

(e) The arbitrators shall make their decision within five days after the hearing. Their
decision shall be in writing and shall be binding upon them;

(f) If the person to whom the demand for arbitration is directed fails to respond within
five days, the other must give an additional five days' written notice of his/her intent to
proceed. If there is no response, the person initiating the arbitration may proceed with the
arbitration before the arbitrator he/she has designated, and the award shall have the same
force as if it had been issued by all three arbitrators.




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19. ADDITIONAL PROVISIONS

________________________________________________________________________
___ [Such as custody of pets; division of household chores etc.] Please note that any
legal obligation regarding payment of child support to any child of the Cohabitant
would remain unaffected and shall not be modified under this Agreement]


IN WITNESS WHEREOF, the Cohabitants have executed this Agreement at
______________________________ on this _____ day of
_____________________________, ___.



_________________________________
First Party



_________________________________
Second Party




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                                      Exhibit A
Separate personal property of ____________________________________


________________________________________________________________________
________________________________________________________________________




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                                                 Exhibit B

Separate personal property of ____________________________________



________________________________________________________________________
________________________________________________________________________




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                                                 Exhibit C

Jointly-owned property:



________________________________________________________________________
________________________________________________________________________




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                                                EXHIBIT D


Balance Sheets of Cohabitants




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                                      SCHEDULE
The Cohabitants agree to divide the necessary expenses as follows:
Monthly Expenses                     First Party                   Second Party

        Rent or Mortgage

        Utilities:
[Fill in Particulars]

        Insurance:
[Fill in Particulars]

        Debt Payments:
[Fill in Particulars]
        Transportation Expenses:
[Fill in Particulars]

        Transportation Expenses:
Fill in Particulars]

        Household Expenses:
[Fill in Particulars]

        Personal Expenses:
[Fill in Particulars]

        TOTAL EXPENSES:




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DOCUMENT INFO
Description: A cohabitation agreement is intended for use by non-married couples who are living together or who have chosen to live together. This agreement provides for the sharing of living expenses, the division of joint property upon termination of the relationship; and the retention of separate property acquired prior to, and after, the execution of this agreement. This agreement regulates the cohabitants' property rights and what arrangements might be made for mutual financial support, dealing with debt, caring for children, etc. A written cohabitation agreement can help ensure that the cohabitants are aware of what is expected of them and further helps in the event of a dispute and can assist the mediators, counsel or arbitrators in arriving at important decisions.
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