Contracts For Unmarried Couples In New York
Category:
State:
Multi-State
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants is designed for couples in New York who are not married but wish to co-own property. This contract facilitates joint ownership, specifying equal shares and responsibilities for financial obligations such as mortgage payments, taxes, and maintenance costs. Key features include the establishment of a joint checking account for shared expenses and provisions for selling or transferring ownership interests. The form outlines procedures for property valuation and the rights of each party regarding potential sales, ensuring both parties are treated fairly and transparently. It highlights the importance of mutual consent for certain financial decisions, including mortgages and assigns rights under the agreement. This contract is essential for attorneys, partners, property owners, associates, paralegals, and legal assistants as it provides a legally binding framework for financial and ownership arrangements, promoting clarity and preventing disputes. Users can easily edit the form to customize it to their specific situation, making it a versatile tool for unmarried couples investing in real estate.
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