COHABITATION AGREEMENT

 

 

WHEREAS, ____________________________________________ (Name and Address),

and ___________________________________________________ (Name and Address)

intend to reside together in the future; and

 

WHEREAS, they desire to affix their respective rights and liabilities that may result from this joint residency; and

 

WHEREAS, they have fully and completely disclosed to one another their current financial status including assets and liabilities; and

 

WHEREAS, they each have had an opportunity to consult with separate counsel of their own choice or such other advisor as each independently wishes to consult;

 

The parties now agree:

 

1.  Each party shall maintain a separate banking account, and neither party shall have the            right to the proceeds of or access to the account of the other party.

 

2.  Each party waives any claim to palimony or other claim for support resulting from said joint residency.  

           

3.  The parties shall reside together and by such action do not intend that they acquire the status of marriage.

           

4.  Should they purchase assets in joint names, the same shall be considered as held in tenancy in common.  Each party shall contribute from his or her own income and resources one-half of the upkeep, taxes, and other fees or charges on such property.  In the event that one party fails to pay as agreed and the other party may contribute in excess of one-half, and the excess contribution shall be chargeable to the proceeds, if any, upon resale of the property, and such excess contribution shall bear interest at the legal rate of interest then in effect.

 

5.  The parties hereto waive any claim against the estate of the other party, save and except:

Any excess contribution to jointly acquired assets;

Any promissory notes executed by one party to the other;

Any judgment entered in the favor of one party against the other;

Provided however, that should either party voluntarily and freely make a devise or other bequest to the other in their will, the recipient shall be entitled to the same.  The parties stipulate that this relationship was not premised upon or created by the promise of a devise or bequest from their estate.

 

6.  Other than property purchased in the parties joint names, each party waives any claim to assets acquired by the other party before, during or after this period of cohabitation.

Other than debts  validly contracted for services or materials or otherwise related to joint property of the parties, if any, neither party shall have the right to obligate, act for, contract for or represent the other party.

 

7.  The parties shall apportion the necessary and jointly agreed living expenses as follows:

____________________________________________ shall contribute _____ percent

____________________________________________ shall contribute _____ percent

Should either party be temporarily unable to contribute, the sums may be advanced. However, after advances totaling $ __________ the same will be considered to be gifts and any obligation to adjust accounts shall cease unless a promissory note is executed therefor.

 

This is the full agreement of the parties and there are no agreements other than those stated herein.  This agreement shall only be modified by a writing executed by both parties hereto.

 

This agreement shall be null and void in the event that the aforesaid parties should marry.

 

 

DATED: ____________________________

 

 

___________________________________________

Signature of First Cohabitant

 

 

___________________________________________

Signature of Second Cohabitant