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Property Agreement For Unmarried Couples Template for Philippines

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Key Requirements PROMPT example:

Property Agreement For Unmarried Couples

"I need a Property Agreement For Unmarried Couples under Philippine law for my partner and me to clearly establish ownership rights for our newly purchased Manila condominium and outline how we'll share mortgage payments starting January 2025."

Document background
The Property Agreement For Unmarried Couples is essential in the Philippines, where the legal system does not recognize common-law marriages or automatically protect property rights of unmarried couples. This document becomes particularly important as more couples choose to cohabitate without marriage, requiring clear legal frameworks for their property arrangements. The agreement covers various aspects including separate property ownership, joint acquisitions, financial contributions, and property management protocols. It is designed to comply with Philippine civil law while providing comprehensive protection for both parties' property interests. The document should be used when unmarried couples acquire property together, plan to cohabitate, or wish to clearly define their existing property rights. It typically includes detailed inventories of current properties, protocols for future acquisitions, and mechanisms for property division in case of relationship termination.
Suggested Sections

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

2. Background: Context of the relationship and purpose of the agreement

3. Definitions: Clear definitions of key terms used throughout the agreement, including types of property, contributions, and relevant relationship terms

4. Separate Property: Declaration and listing of properties owned individually by each party prior to cohabitation

5. Joint Property: Definition and listing of properties jointly owned or acquired during cohabitation

6. Financial Contributions: Agreement on how parties will contribute to property acquisition, maintenance, and improvement

7. Property Management: Rules for management of joint properties, including decision-making processes

8. Future Acquisitions: Framework for handling property acquired after the agreement's execution

9. Division of Property: Procedures for property division in case of relationship termination

10. Dispute Resolution: Process for resolving disagreements about property matters

11. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional matters

12. Term and Termination: Duration of the agreement and conditions for termination or modification

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Death Provisions: Optional section dealing with property disposition upon death of either party, recommended when parties wish to include inheritance arrangements

2. Foreign Ownership Provisions: Required when one party is a foreign national, addressing restrictions on land ownership under Philippine law

3. Business Assets: Optional section for couples who own business assets together or separately

4. Debt Allocation: Optional section specifying how existing and future debts will be handled

5. Property Maintenance: Optional detailed section about maintenance responsibilities and cost-sharing for properties

6. Third-Party Rights: Optional section addressing rights of children or other family members in relation to the property

7. Insurance Requirements: Optional section specifying insurance requirements for jointly owned properties

Suggested Schedules

1. Schedule A - Separate Property Inventory: Detailed inventory of properties owned separately by each party prior to the agreement

2. Schedule B - Joint Property Inventory: Detailed inventory of properties jointly owned at the time of the agreement

3. Schedule C - Valuation Reports: Professional valuations of significant properties covered by the agreement

4. Schedule D - Financial Contributions: Record of financial contributions made by each party to joint properties

5. Schedule E - Property Documents: Copies of property titles, deeds, and other relevant ownership documents

6. Appendix 1 - Proof of Ownership: Supporting documentation proving ownership of listed properties

7. Appendix 2 - Property Photographs: Photographic evidence of property condition at time of agreement

Authors

Alex Denne

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

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