Cohabitation Property Agreement Template for Nigeria

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Key Requirements PROMPT example:

Cohabitation Property Agreement

"I need a Cohabitation Property Agreement that protects my pre-existing business assets and three properties in Lagos, while establishing clear terms for shared household expenses and any future joint property acquisitions with my partner."

Document background
The Cohabitation Property Agreement serves as a crucial legal instrument in Nigeria for unmarried couples who live together and wish to establish clear property rights and financial responsibilities. This document becomes particularly important in the Nigerian legal context, where there is no specific statutory framework governing cohabitation relationships. The agreement typically covers ownership of separate and joint properties, financial contributions to household expenses, property division protocols in case of separation, and dispute resolution mechanisms. It should be drafted with consideration of Nigeria's mixed legal system, including common law principles and relevant customary laws. The document is especially relevant given the increasing prevalence of cohabitation arrangements in modern Nigerian society and the need to protect both parties' property interests in the absence of matrimonial property laws.
Suggested Sections

1. Parties: Identification and details of the cohabiting partners entering into the agreement

2. Background: Context of the relationship, purpose of the agreement, and acknowledgment of legal advice

3. Definitions: Key terms used throughout the agreement including 'shared property', 'separate property', 'cohabitation', etc.

4. Duration and Application: Period of effectiveness and circumstances under which the agreement applies

5. Separate Property: Declaration and listing of properties owned individually by each party prior to cohabitation

6. Shared Property: Definition and treatment of jointly acquired property during cohabitation

7. Financial Contributions: Agreement on how parties will contribute to household expenses and property maintenance

8. Property Division on Separation: Process and principles for dividing property if the relationship ends

9. Dispute Resolution: Procedures for resolving disagreements about property matters

10. Governing Law: Confirmation that Nigerian law governs the agreement

11. Execution: Signature section with attestation by witnesses

Optional Sections

1. Business Interests: Section dealing with shared business ventures or protection of individual business interests

2. Inheritance Rights: Provisions regarding inheritance of property in case of death of either party

3. Debt Responsibility: Agreement on handling existing and future debts

4. Children's Interests: Provisions for protecting property interests of children from current or previous relationships

5. Pets and Personal Effects: Agreement on ownership and care of pets and distribution of personal items

6. Future Property Acquisition: Framework for handling property acquired after the agreement is signed

7. Cultural and Religious Considerations: Specific provisions acknowledging and incorporating relevant cultural or religious practices regarding property

8. Modification Procedures: Process for amending the agreement in the future

Suggested Schedules

1. Schedule A - Separate Property Inventory: Detailed list of each party's separate property at the time of agreement

2. Schedule B - Shared Property Inventory: Detailed list of all shared property at the time of agreement

3. Schedule C - Financial Obligations: List of existing financial commitments and how they will be handled

4. Schedule D - Property Valuation Reports: Professional valuations of significant properties included in the agreement

5. Appendix 1 - Supporting Documents: Copies of property titles, registration documents, and other relevant certificates

6. Appendix 2 - Financial Statements: Current financial statements of both parties

7. Appendix 3 - Legal Advice Certificates: Certificates confirming independent legal advice received by each party

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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