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Property Agreement For Unmarried Couples

Property Agreement For Unmarried Couples Template for Australia

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Key Requirements PROMPT example:

Property Agreement For Unmarried Couples

"I need a Property Agreement For Unmarried Couples to document a 70-30 ownership split for our first home purchase in March 2025, where I'm contributing 70% of the deposit and want to ensure this unequal contribution is properly protected."

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Document background
A Property Agreement For Unmarried Couples is a crucial legal document used in Australia to establish clear property rights and financial arrangements between couples in de facto relationships. This agreement becomes particularly important given the legal recognition of de facto relationships under the Family Law Act 1975 and various state legislations. It should be used when unmarried couples acquire property together, have significant assets, or wish to clearly document their financial arrangements. The agreement typically covers existing property ownership, future acquisitions, financial contributions, living expenses, and provisions for relationship breakdown. It requires independent legal advice for both parties and must comply with both federal and state-specific legislation regarding de facto relationships and property law.
Suggested Sections

1. Parties: Identification and details of both parties entering into the agreement

2. Background: Context of the agreement, nature of the relationship, and purpose of the document

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Property Ownership: Declaration of existing separate property ownership and jointly owned property

5. Financial Contributions: Details of past and ongoing financial contributions to property acquisition and maintenance

6. Living Expenses and Outgoings: Agreement on sharing of household expenses, utilities, and property-related costs

7. Future Property Acquisition: Framework for handling future property purchases and ownership determination

8. Relationship Breakdown Provisions: Process and principles for property division in case of relationship termination

9. Dispute Resolution: Procedures for resolving disagreements about property matters

10. Variation of Agreement: Process for making changes to the agreement

11. Governing Law: Specification of applicable law and jurisdiction

12. Execution: Formal signing and witnessing requirements

Optional Sections

1. Business Interests: Section dealing with shared business ownership and operation (include if parties have joint business interests)

2. Inheritance and Gifts: Treatment of inherited property and gifts (include if significant inherited assets exist)

3. Dependent Children: Property considerations related to children (include if either party has children)

4. Pets and Personal Property: Ownership and care arrangements for pets and valuable personal items (include if relevant)

5. Mortgage and Loans: Management of joint loans and mortgages (include if shared debt exists)

6. Death Provisions: Property arrangements in case of death of either party (include if requested)

7. Superannuation: Treatment of superannuation interests (include if significant super assets exist)

Suggested Schedules

1. Schedule A - Existing Property Register: Comprehensive list of all properties owned by either party at agreement date

2. Schedule B - Financial Disclosure: Detailed financial statements from both parties

3. Schedule C - Shared Household Items: Inventory of jointly owned household items and their agreed ownership

4. Schedule D - Separate Property List: Detailed list of items agreed to remain separate property

5. Schedule E - Liabilities Register: List of all debts and liabilities of both parties

6. Appendix 1 - Independent Legal Advice Certificates: Certificates confirming both parties received independent legal advice

7. Appendix 2 - Property Valuations: Professional valuations of significant assets

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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