Joint Tenancy For Unmarried Couples In Travis
Category:
State:
Multi-State
County:
Travis
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 unmarried couples in Travis who wish to jointly own property. This form establishes joint tenancy with the right of survivorship, allowing each partner to hold equal interests in the property. Key features include allocation of expenses for mortgage payments, taxes, and maintenance, along with provisions for creating a joint checking account for these expenses. The agreement restricts both parties from selling or transferring their interests without offering the other partner the first opportunity to buy. Additionally, the document outlines a process for valuing the property annually and stipulates liquidated damages for any breach regarding financial commitments or transfer of interests. This form serves as a critical tool for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for property ownership and financial responsibilities, minimizing potential disputes and ensuring clarity in legal obligations.
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