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
