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Property Agreement For Unmarried Couples Template for England and Wales

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Key Requirements PROMPT example:

Property Agreement For Unmarried Couples

"I need a Property Agreement For Unmarried Couples that covers a 70-30 ownership split of a London apartment, where I'm contributing 70% of the deposit and monthly mortgage payments, to be completed before March 2025 when we plan to move in together."

Document background
The Property Agreement For Unmarried Couples is essential for cohabiting partners in England and Wales who own or are purchasing property together. Unlike married couples, unmarried partners have no automatic property rights under UK law, making this agreement crucial for protecting both parties' interests. The document typically covers ownership proportions, financial contributions, maintenance obligations, and exit strategies. It's particularly important given the increasing number of unmarried couples choosing to purchase property together and the lack of specific legislative protection for cohabiting couples in England and Wales.
Suggested Sections

1. Parties: Details of both parties including full names, addresses, and occupation

2. Background: Context of the agreement, property details, and relationship status

3. Definitions: Key terms used throughout the agreement including Property, Shares, Contributions, and other relevant definitions

4. Property Ownership: Specification of ownership shares and type of ownership (joint tenants or tenants in common)

5. Financial Contributions: Details of initial and ongoing financial contributions including purchase price, deposit, and mortgage payments

6. Property Costs: Allocation of mortgage, maintenance, insurance, utilities and other property-related costs

7. Termination: Process for ending the agreement including sale, buy-out provisions, and dispute resolution

Optional Sections

1. Improvements and Alterations: Rules and procedures for making modifications to the property and how costs and value increases will be shared

2. Pets and Animals: Rules and responsibilities regarding keeping pets in the property

3. Business Use: Provisions for using the property for business purposes including home offices

4. Third Party Occupants: Rules about other occupants, lodgers, or rental arrangements

Suggested Schedules

1. Schedule 1: Property Details: Full property description, title details, and registration information

2. Schedule 2: Financial Schedule: Detailed breakdown of financial contributions and payment schedules

3. Schedule 3: Inventory: List of jointly owned items and their agreed values

4. Appendix A: Property Valuation: Initial property valuation report and methodology for future valuations

5. Appendix B: Mortgage Details: Copy of mortgage agreement and payment terms

Authors

Alex Denne

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

Relevant legal definitions




















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Relevant Industries
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Industries

Law of Property Act 1925: Primary legislation governing property ownership and interests in England and Wales. Defines legal and beneficial ownership and establishes methods of holding property (joint tenants or tenants in common).

Trusts of Land and Appointment of Trustees Act 1996: Known as TOLATA, this Act governs disputes between co-owners, defines rights and duties of trustees, and provides the framework for court intervention in property disputes.

Family Law Act 1996: Legislation covering occupation rights, protection against eviction, and provisions regarding domestic violence, relevant for cohabiting couples.

Law Reform (Miscellaneous Provisions) Act 1970: Addresses contributions to property purchase and recognition of financial contributions between unmarried couples.

Cohabitation Rights: Legal principle establishing that unmarried couples have no automatic rights (unlike married couples) and must explicitly state intentions regarding ownership and contributions.

Contract Law Principles: Fundamental legal principles including consideration, intention to create legal relations, and capacity to contract that must be considered in property agreements.

Civil Partnership Act 2004: Legislation that becomes relevant if parties later enter into civil partnership, affecting property rights and obligations.

Human Rights Act 1998: Establishes fundamental rights including the right to respect for home and family life, and property rights that must be considered in property agreements.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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