Manitoba Cohabitation Agreement

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Manitoba Cohabitation Agreement Powered By Docstoc
					                             COHABITATION AGREEMENT

THIS AGREEMENT made effective this _____ day of ______________, _______.

BETWEEN:

                           ___________________________ (name of Partner 1)
               of the City of ___________________________, in the Province of Manitoba
                                             (“Partner 1”)
                                                                                OF THE FIRST PART
                                                - and -

                           ___________________________ (name of Partner 2)
               of the City of ___________________________, in the Province of Manitoba
                                             (“Partner 2”)
                                                                              OF THE SECOND PART

WHEREAS:

A.     The parties will, now or in the future, reside together in a committed relationship.

B.     The parties commenced living with each other on or about the _____ day of _________________,
       _______.

C.     The parties are both self-supporting.

D.     Partner 1 has ______________ children from a previous relationship, as follows:

       Name                                       Birthdate

       ___________________________                ______________________

       ___________________________                ______________________

       Partner 2 has _________________ (________) [insert number of children in both words and numerals]
       children from a previous relationship, as follows:

       Name                                       Birthdate

       ___________________________                ______________________

       ___________________________                ______________________

E.     [delete if not applicable] Partner 1 is solely responsible for any support payable for his/her children.

F.     [delete if not applicable] Partner 2 is solely responsible for any support payable for his/her children.

G.     Each party acknowledges that he or she has been sufficiently advised and informed by the other
       party of the assets, debts, income, expenses, property, estate and prospects of the other party (as
       more particularly described in Schedule “A” and Schedule “B” attached hereto and made a part
       of this Agreement), and each party has been fully advised and informed by their respective
       lawyers of his or her respective rights and liabilities against and to the other party and to and in
                                                  -2-


       the affairs of the other party. Any undisclosed asset owned by either party shall be deemed to be
       a joint asset subject to equal division.

H.     Each party has each retained separate legal counsel, and has received independent legal advice
       with respect to the terms of this Agreement.

I.     The parties have been advised of and understand their rights and obligations arising from their
       cohabitation and wish to organize their own affairs differently from that provided by provincial
       law.

J.     The parties have acknowledged that neither is under any duress or undue influence and that they
       are voluntarily entering in to this Agreement with the benefit of independent legal advice.

K.     It is the intention of each of the parties that this Agreement shall be the sole determinant of the
       division of any property and assets whatsoever, gifted to or inherited by either or both of them.

NOW THEREFORE IN CONSIDERATION of the love and affection that exists between the parties, and
the mutual promises and covenants contained herein, all of which the parties acknowledge is good and
valuable and sufficient consideration, the parties hereto agree as follows:


1.     Definitions

1.1     Wherever used throughout this Agreement, the following words or phrases shall have the
following meanings:

(a)    “herein”, “hereof”, “hereto”, “heretofore”, “hereafter”, “herewith” and similar words or
       expressions refer to this Agreement and not to a particular section or sections thereof, unless the
       context or subject matter otherwise so requires;

(b)    “ownership” or “owned” when used in this Agreement shall constitute legal ownership and does
       not include any rights arising by operation of the principles of trust or equity. Without limiting
       the generality of the foregoing, and except as specifically provided for elsewhere in this
       Agreement, the following shall constitute ownership:

       (i)     property held or registered in the name of one of the parties shall be deemed to be owned
               by that party;

       (ii)    property transferred to one of the parties shall be deemed to be owned by such party;

       (iii)   property inherited by one of the parties shall be deemed to be owned by such party;

       (iv)    property for which no title documentation commonly exists (for example, household
               furniture) will be deemed to be owned by the party who paid for it; and

       (v)     money held in a joint bank account on which both parties are signatories shall be deemed
               to belong equally to both parties;

(c)    “property” means all real and personal property of any kind, whether owned directly or
       indirectly, and includes:

       (i)     land, personal possessions, money in bank accounts, pension plans, trust funds,
               investments, and all other forms of financial accounts;
                                                     -3-



      (ii)    contingent interests; and

      (iii)   interests in future rights.

(d)   “section” includes sections, sub-sections, paragraphs or sub-paragraphs;

(e)   any reference to legislation in this Agreement shall be taken to mean that legislation as may be in
      force at any material time after the effective date of this Agreement and any and all amendments
      thereto or replacements thereof;

(f)   “support” includes support, alimony, maintenance or similar allowance, whether interim,
      permanent or variable, in the Province of Manitoba or any other jurisdiction;

(g)   “termination of the cohabitation” or “termination of the relationship” means the earliest of the
      following dates:

      (i)     the date one of the parties dies; or

      (ii)    the date that one party gives the other written notice that the cohabitation relationship
              has irretrievably broken down and he or she wishes, from that date forward, to live
              separate and apart.

2.    Intent of Agreement

2.1   Partner 1 and Partner 2 separately acknowledge that:

(a)   [Choose the appropriate option and delete the other.] Their relationship resembles marriage {OR] Their
      relationship will be marriage.

(b)   In the course of the relationship, each party will confer benefits upon the other. Such benefits
      conferred by one party upon the other are to be considered gifts, and the making of these gifts
      does not result in an unjust enrichment of the recipient to the detriment of the donor.

(c)   Neither party intends to share legal or beneficial ownership of their separate property, owned
      before or acquired after the making of this Agreement, except as specifically stated in this
      Agreement or elsewhere set out in writing between the parties.

(d)   Neither party shall rely on the other party’s expression of an intention by one Partner to hold all
      or any portion of a property in trust for the other Partner, unless such intention is in writing.

(e)   Both parties intend to share equally the legal and beneficial ownership of their separate property,
      owned before or acquired after the making of this Agreement, except as specifically stated in this
      Agreement or elsewhere set out in writing between the parties.

(f)   All property of whatever kind purchased by either or both Partners while cohabiting shall be the
      joint property of both parties and shall be held in equal shares with equal right to its use and
      enjoyment, except as specifically stated in this Agreement or elsewhere set out in writing
      between the parties.
                                                       -4-


2.2    Partner 1 states and agrees that all of his/her assets and liabilities as of the date of this
Agreement shall be accurately listed in the attached Schedule “A” and signed by both parties. Partner 1
acknowledges that Partner 2 is relying on this statement as to the accuracy of Schedule “A”.

2.3    Partner 2 states and agrees that all of his/her assets and liabilities as of the date of this
Agreement shall be accurately listed in the attached Schedule “B” and signed by both parties. Partner 2
acknowledges that Partner 1 is relying on this statement as to the accuracy of Schedule “B”.

2.4      The parties wish their financial affairs existing at the date of commencement of cohabitation to be
unaffected by the cohabitation, except as provided in this Agreement. Both parties agree that no rights or
obligations, in connection with property owned by either party prior to their cohabitation, will accrue to
either as a result of their cohabitation.

2.5      It is the intention of both parties that if they should cohabit, this Agreement shall be a full and
final settlement of all property issues arising prior to their cohabitation, during their cohabitation, and
upon the breakdown of their relationship. The terms of this Agreement shall survive any marriage or
divorce of the parties.

2.6     [choose one of the following options]

It is the intent of the parties that, subject to this Agreement, Partner 1 shall retain the assets listed in
Schedule “A” and Partner 2 shall retain the assets listed in Schedule “B” as their separate property in the
event that the relationship terminates.

[OR]

It is the intent of the parties that, subject to this Agreement, the assets referred to in Schedule “A” and
Schedule “B” shall be divided in equal shares between the Partners in the event that the relationship
terminates.

3.      Property

3.1     Separate Property

(a)     Partner 1 and Partner 2 shall, during their respective lifetimes, keep and retain sole ownership,
        control, and enjoyment of all property, real or personal, now owned or in possession of him/her,
        free and clear from any claim by the other Partner, except as provided in this Agreement.

(b)     Partner ____ is the registered owner of the property and                    premises    located at
        ___________________________________________________________                 [street         address],
        ________________________, Manitoba, with a legal description of:

        [insert legal description of the property]




        (hereinafter referred to as the “Property”).

(c)     Partner ____ is, and shall remain, the sole registered owner of the Property.
                                                 -5-


(d)   Partner ____ purchased the Property on the _______ day of ___________________, _______ for
      ________________ dollars ($_______________). The current fair market value is approximately
      ______________ dollars ($_____________).

3.2   Shared Property

(a)   The       parties,      by       this    Agreement,        shall reside     together    at
      ___________________________________________ [street address], __________________, Manitoba
      or at such other residence as they may have from time to time.

(b)   Notwithstanding anything contained in Section 3.1, Partner ____ agrees that while he/she and
      Partner ____ cohabit, Partner ____ shall acquire an interest in the Property on an incremental
      basis, as follows:

      i.      Partner ____ shall have sole title to and ownership of _____________ percent (_______%)
              of the Property in recognition of his/her down payment of __________ dollars
              ($____________), free of any claim by Partner ____, this being the current equity in the
              Property.

              The remaining ____________ percent (_______%) interest in and to the Property
              represents the mortgages against the Property in the amount of ________________ dollars
              ($___________). The liability for the mortgages against the Property shall be divided
              equally between the Partners.

      ii.     Partner ____’s share of the equity in the Property shall rise as the mortgages are paid
              down at the rate of ___________ percent (______%) per annum, provided however, that
              Partner ____ shall pay his/her share of the mortgage payments.

      iii.    Partner ____ shall have the option to pay to Partner ____ a lump sum payment for the
              purchase of an additional interest in the Property in proportion to the amount of his/her
              payment, which proportion and additional interest shall be agreed in writing between
              the parties and added as an addendum to this Agreement.

(c)   If the parties purchase a new home, held in joint names, the initial contribution of a party to the
      downpayment shall continue to be the sole property of that party. All increase in the equity of the
      home thereafter shall be jointly owned and divided equally between Partner 1 and Partner 2.

(d)   Furnishings and household goods which were brought into the relationship by each Partner shall
      remain the sole property of that Partner. Furnishings and household goods purchased by either
      Partner after the effective date of this Agreement shall be deemed to be jointly owned, unless
      otherwise agreed in writing by both parties.

3.3   Mortgage

(a)   There is a mortgage/loan/line of credit in the sum of _____________________ dollars
      ($__________), in the name of _____________________, dated the _________ day of
      ______________________, __________, registered against the Property and held by
      ______________________________ (hereinafter referred to as the “Mortgage”).

(b)   The monthly payment due and owing on the Mortgage is currently in the amount of
      ______________ dollars ($______________) per month, including principal and interest, and not
      including property taxes.
                                                    -6-



(c)     [choose one of the following options]
        Partner 1 and Partner 2 shall share the Mortgage payments equally, such that each party pays
        _______________ dollars ($__________) per month.

        [OR]

        The parties shall share the Mortgage payments such that Partner 1 shall pay ___________ dollars
        ($__________) per month and Partner 2 shall pay __________________ dollars ($___________) per
        month.

(d)     Each of the parties agree that he/she shall not further encumber the Mortgage or sell his/her
        interest, whether legal or beneficial, in and to the Property without the written consent of the
        other party.

3.4     Property Usage

Partner 1 and Partner 2 shall share equally in the use and occupation of the Property.

3.5     Sale of the Property

(a)     Should either Partner wish to sell his/her interest in the Property, he/she shall first give written
        notice of such intention to the other Partner and that Partner shall have the first option to
        purchase such interest, at a price to be determined by the current market value of the Property.
        This option shall remain valid for a period of ________ days from the date of receipt of such
        notice.

(b)     In the event of a termination of the relationship between the parties, for any reason, Partner ____
        shall have the first option to purchase the interest of the other Partner at a price to be determined
        by the current market value of the Property. This option shall remain open for a period of
        ________ days from the date of the termination of the relationship.

(c)     In the event that neither party wishes to exercise his/her option as set out herein, or upon expiry
        of the option period, the parties shall list the Property for sale at a price to be determined by
        agreement or as set out in Section 3.5(b), provided, however, that the Property shall not be sold at
        a price less than the original purchase price, unless otherwise agreed in writing by both parties.

(d)     In the event that the parties cannot agree upon the listing price or option purchase price, the price
        shall be set by obtaining three (3) independent realtor appraisals and taking the average of the
        three (3) appraisals.

(e)     Any fees and costs of such appraisals shall be borne equally between the Partners.

(f)     The Partners agree that they will accept any offer from a bona fide purchaser that is within
        ____________ percent (_______%) of the listing price.

(g)     In the event that the Property is sold, the proceeds of the sale shall be applied in the following
        order: (i) firstly, to any real estate commission; (ii) secondly, to any outstanding taxes on the
        Property; (iii) thirdly, to any legal or other costs involved in the sale; (iv) fourthly, to repayment
        of the Mortgage; (v) fifthly, to the payment to Partner ____ of his/her _____________ percent
        (_____%) share of the Property; and (vi) lastly, to any outstanding defaults to the non-defaulting
        party, as hereinafter set out in Section 5.1.
                                                    -7-



(h)     The balance of the sale proceeds (if any) shall be divided equally between the Partners.

3.6      Life Estate. In the event that either Partner passes away while residing in any property that is the
principal residence of the parties at the time of such Partner’s death, and if such property is jointly owned
by the Partners as tenants-in-common, the other Partner shall have the right to remain in possession of
until such surviving Partner’s death, so long as the surviving Partner continues to reside at such
property. This provision shall have no effect with respect to property owned by the Partners as joint
tenants.

4.      Utilities, Taxes, General Maintenance, and Living Expenses

4.1     [choose one of the following options] Partner 1 and Partner 2 shall share equally in the following
costs and expenses:

(a)     property taxes,
(b)     condominium / strata fees,
(c)     utilities and telephone,
(d)     homeowners insurance,
(e)     groceries and household expenses,
(f)     capital repairs,
(g)     [insert any other applicable costs]

[OR]

Each party shall be responsible only for those payments listed below [list all items each Partner will be
responsible for paying under that Partner’s name]:

                        PARTNER 1                                          PARTNER 2




4.2     [choose one of the following options] The parties shall share equally the cost of all general
maintenance and non-capital repairs, as necessary for the general upkeep of the Property and fixtures
thereon, and each Partner shall pay one-half of such costs, as and when they become due and owing.

[OR]

The parties shall share in the cost of all utilities and non-capital repairs, as necessary for the general
upkeep of the Property and fixtures thereon, as follows: Partner 1 shall pay _____________ percent
(_________%) and Partner 2 shall pay ___________________ percent (________%) of such costs, as and
when they become due and owing.

4.3     The parties agree that no major expenses, including renovation, repair and redecoration, shall be
incurred unless otherwise mutually agreed, except in the case of emergency when immediate steps must
be taken to ensure the safety and preservation of the Property.
                                                    -8-


5.      Default

5.1      Should either party fail to pay, in a timely fashion, any amount to be paid by such party under
this Agreement, such default shall be covered by the other party, and all monies, costs, and obligations
outstanding, together with interest at the then current prime lending rate of the ______________________
[insert name of bank], shall be deducted from the share in the net sale proceeds of the defaulting party and
the sum so deducted shall be used to reimburse the other party for his/her outlay and expenses in respect
of such default.

5.2      Should the share in the net sale proceeds of the defaulting party not be sufficient to satisfy the
outstanding balance owing, together with accrued interest, he/she shall continue to be responsible for
such default and shall be solely liable and shall indemnify and save the other party harmless from all
costs, outlays, actions, and claims arising from such default.

5.3    All defaults in payments and costs shall accrue interest at the then current prime lending rate of
the ______________________ [insert name of bank], from the date of such default until the date such
payments and costs are paid in full.

6.      Other Property and Assets

6.1      [choose one of the following options] Except as specifically provided herein, any property brought
into the relationship by each of the parties or purchased solely by one party during the relationship shall
remain the sole property of such party, and Partner 1 and Partner 2 hereby agree that they shall have no
interest in or claim against the personal and real property of the other Partner as the same existed prior to
their relationship.

[OR]

Except as specifically provided herein, any property brought into the relationship by each of the parties
or purchased solely by on
				
DOCUMENT INFO
Description: Prepare a Cohabitation Agreement (also known as a Living Together Agreement) with this template form for Manitoba. - The Agreement is between a heterosexual couple who are planning to live together in a common law arrangement. - The intent of the Agreement is to establish the ownership of property between the parties, and set out the responsibilities of the parties with respect to children and support. - Title to property and assets belonging to one of the parties prior to the cohabitation remains with that party. - All property acquired during the relationship will be considered joint property unless the parties specify otherwise in writing, and will be divided equally between them if the parties separate. - If the partners own a residence as tenants in common, each of them have a life estate in the property for as long as they reside in the property. - Each party is responsible for his/her own debts and obligations. - The partners will be jointly responsible for raising, supporting and caring for any children of the relationship. - Each party waives any right to claim part of any inheritance left to the other party. - Before signing, you and your partner must get independent legal advice from a lawyer. The form includes a Certificate of Independent Legal Advice for each party. This Manitoba Cohabitation Agreement is in MS Word format, and is fully editable to meet your needs.
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