Contracts For Unmarried Couples That Are Buying A Home In Pennsylvania

• State: Multi-State
• Category: Real Estate - Purchase Agreements
• Control #: US-00414BG
• Format: Word; Rich Text

Description

The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants is designed for unmarried couples in Pennsylvania who are buying a home together. This form facilitates joint ownership, establishing that both partners will own the property equally with rights of survivorship. Key features include detailed provisions for shared financial responsibilities such as mortgage payments, taxes, and maintenance costs, as well as guidelines for establishing a joint checking account for these expenses. The agreement restricts the sale or transfer of interests in the property without mutual consent for a specified period, ensuring that both partners are protected. It also outlines procedures for valuing the property and resolving any financial disputes over unpaid contributions. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful in streamlining the legal process of property ownership among unmarried couples, providing clarity and legal protection for both parties involved.