Contracts For Unmarried Couples That Are Buying A Home In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants serves as a legal framework for unmarried couples looking to buy and co-own a home in Cook. This form establishes the understanding that both parties intend to own the property as joint tenants with right of survivorship, each holding an undivided one-half interest. Key features include provisions for shared financial responsibilities for mortgage payments, taxes, and maintenance costs, facilitating equitable ownership. Additionally, the agreement outlines procedures for handling interest in the property if one party defaults on payment or wishes to sell their share, ensuring both parties have clear guidelines to follow. For editing, users should fill in personal information, legal property descriptions, and financial contributions as applicable. Attorneys, paralegals, and legal assistants will find this document useful for advising clients on their rights and obligations, while partners and owners can rely on it to protect their investments and set clear expectations in the management of their shared property.
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