Joint Tenancy For Unmarried Couples In Phoenix

State:
Multi-State
City:
Phoenix
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 specifically for unmarried couples in Phoenix seeking to co-own property. This legal document enables both partners to hold equal ownership with rights of survivorship, meaning that if one partner passes away, the other automatically inherits the decedent's share. Key features include provisions for shared financial responsibilities regarding mortgage payments, taxes, insurance, and maintenance costs, emphasizing equitable contribution from both parties. Additionally, the form outlines procedures for creating a joint checking account to manage these expenses and stipulates conditions regarding the sale or transfer of interests in the property. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to provide clear guidelines for property ownership and to mitigate disputes between co-owners. The document also includes measures for resolving potential financial defaults and ensuring proper valuation of the property over time. Filling out this agreement requires accurate legal descriptions and adherence to signing and witness requirements, including notarization, to ensure enforceability. This form serves as a vital tool for unmarried couples in establishing legal clarity and protection in their joint investment.
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  • Preview Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants
  • Preview Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants

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FAQ

While Arizona doesn't permit the creation of new common law marriages, this doesn't mean couples who live together while unmarried have no rights. Couples can sign a cohabitation agreement in Arizona, allowing them to live together and have access to certain rights despite not being married.

Answer: If unmarried: Arizona does not recognize “common law” marriage (A.R.S. 25-111), so there are no formal legal rules for the division of property when an unmarried couple breaks up, regardless of whether or not they lived together.

Perhaps the most common way for unmarried couples to take title to real property is as "tenants in common." Unlike a joint tenancy, a tenant in common has no automatic right to inherit the property when the other partner dies.

AZ is a community property state. That means any property acquired before the marriage is considered the separate property of that spouse. Any property acquired during the marriage is community property and subject to the 50/50 split.

In Arizona, property law is governed by ARS Title 33. Joint or community property is covered in ARS 33-431. When multiple people own real estate or property, ownership of the property is typically shared as either joint tenancy or as tenants in common.

As long as you and your ex can agree on how to divide up your assets, there is no need to involve lawyers or the court system. Even if children are involved, in most states you have the opportunity to separate in private, ing to whatever arrangements the two of you agree on.

If they were married, they would likely receive spousal maintenance and attorney fees. Arizona is a community property state, as well. However, the rules in Arizona differ greatly from Washington. An unmarried couple that is splitting up in Arizona has no rights to one another's property.

By the law in Arizona, if a woman has a child out of wedlock, the mother automatically becomes the sole legal custodian until paternity is established or the court determines the custodial parent. Until that time, the mother has the right to make arrangements for the child without consulting the biological father.

While Arizona law does not expressly recognize common-law marriages established within the state, it does respect the legitimacy of cohabitation agreements under contract law. Arizona Revised Statutes (ARS) § 25-213 allows couples to control their property rights through contractual means.

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Joint Tenancy For Unmarried Couples In Phoenix