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Cohabitation Agreement 3

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Cohabitation Agreement 3
Cohabitation Agreement
WHEREAS, Your Name: ________________, and Other Person's Name: ______________ , are
presently residing together and have been doing so since Beginning Date: __-__-____;
and, WHEREAS, they desire to affix their respective rights and liabilities that may result
from this joint residency;
and, WHEREAS, they each have had an opportunity to consult with separate counsel of
their own choice;
and, WHEREAS, they have completely and fully disclosed to one another their current
financial status including liabilities and assets;
they now agree:
That each party waives any claim to palimony or other claim for support resulting from
said joint residency.
That when they reside together, and by such action in no way are they to be considered as
married by the common law or otherwise shall they occupy the status of being married.
Each party shall maintain separate banking accounts, and neither party shall have the
right to the proceeds of or access to the same.
That should they purchase assets in joint names, such assets shall be considered as held in
tenancy in common. Each party shall contribute from their own resources and income
one-half of the upkeep, taxes, and other fees or charges on such property. In the event
that one party shall fail to pay as agreed, and the other party contribute in excess of one-
half, this 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.
The parties hereto waive any claim against the estate of the other party, save and except:
Any promissory notes executed by one party to the other;
Any excess contribution to jointly acquired assets;
Any judgment entered against one party in the favor of 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.
This relationship was neither created by nor premised upon the promise of a devise or
bequest from their estate.
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 either party.
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 co-habitation.
The parties shall apportion the necessary and jointly agreed living expenses as follows:
Your Name: ________________ shall contribute Your Share: ___%
Other Person's Name: ______________ shall contribute Other Person’s Share: ___%
Cohabitation Agreement 3