Boundary Line Agreement Sample For Unmarried Couples In Philadelphia
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Although the Commonwealth may not recognize domestic partnerships, it does recognize cohabitation agreements. Cohabitating partners need only be two people living together in a committed relationship as if they were a married couple.
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.
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.
As such, then one of the parties would get the home, generally speaking. However, the party receiving the home is likely to have the rest if their share of communal property offset by the home, so as to make it fair.
Pennsylvania law doesn't automatically grant shared property rights to unmarried partners. As such, the division of property is typically governed by the principles of contract and property law. To safeguard individual interests, it is advisable for unmarried couples to consider creating a cohabitation agreement.
In Pennsylvania, most property acquired during the marriage is marital property subject to equitable distribution either by the Court or by private agreement. When couples divorce, the property is divided based upon what is equitable. There is no presumption that marital property will be equally divided.
