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Property Agreement For Unmarried Couples
"Need a Property Agreement For Unmarried Couples that covers a jointly purchased residential property in California, with a 60-40 ownership split and specific provisions for maintenance costs and potential future sale, to be effective from March 2025."
1. Parties: Identification and details of both parties entering into the agreement
2. Background: Context of the relationship and property ownership situation
3. Definitions: Key terms used throughout the agreement
4. Property Ownership: Details of property ownership structure and percentages
5. Financial Contributions: Agreement on sharing of expenses and financial responsibilities
6. Property Management: Decision-making process for property-related matters
7. Termination: Process for ending the agreement and dividing property
1. Death Provisions: Rights and procedures upon death of either party
2. Future Property Acquisition: Rules for handling future joint property purchases
3. Mortgage Responsibilities: Allocation of mortgage payments and obligations
4. Dispute Resolution: Procedures for resolving disagreements
1. Schedule A - Property Details: Detailed description of the property including legal description
2. Schedule B - Financial Contributions: Detailed breakdown of initial and ongoing financial contributions
3. Schedule C - Property Inventory: List of personal property and their agreed ownership
4. Schedule D - Maintenance Schedule: Agreed maintenance responsibilities and cost sharing
Authors
Property
Effective Date
Parties
Joint Property
Separate Property
Common Areas
Financial Contributions
Operating Expenses
Capital Improvements
Maintenance Costs
Property Rights
Ownership Interest
Ownership Share
Property Manager
Common Expenses
Fair Market Value
Net Proceeds
Transfer
Termination Date
Property Taxes
Insurance Costs
Utility Charges
Emergency Repairs
Regular Maintenance
Improvements
Material Change
Encumbrance
Mortgage
Default
Force Majeure
Governing Law
Notice
Business Day
Financial Contributions
Expenses Allocation
Property Management
Decision Making
Maintenance and Repairs
Insurance
Property Taxes
Utilities
Capital Improvements
Right of First Refusal
Sale of Property
Buyout Rights
Death Provisions
Relationship Termination
Dispute Resolution
Mediation
Severability
Governing Law
Amendment
Notice Requirements
Force Majeure
Default and Remedies
Assignment
Entire Agreement
Waiver
Termination
Indemnification
Representations and Warranties
Recording Rights
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