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Common-law Partnership Agreement Template

This document is a common-law partnership agreement between two parties who intend to enter into a common-law relationship. The agreement outlines how property owned by each party before and during the partnership will be treated, as well as rights regarding support or maintenance. Each party has disclosed their assets, liabilities and income to the other and acknowledges entering into the agreement voluntarily without duress or undue influence. The agreement governs the distribution of present and future property of the parties to the greatest extent allowed by law.

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126 views2 pages

Common-law Partnership Agreement Template

This document is a common-law partnership agreement between two parties who intend to enter into a common-law relationship. The agreement outlines how property owned by each party before and during the partnership will be treated, as well as rights regarding support or maintenance. Each party has disclosed their assets, liabilities and income to the other and acknowledges entering into the agreement voluntarily without duress or undue influence. The agreement governs the distribution of present and future property of the parties to the greatest extent allowed by law.

Uploaded by

Fawad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Common-law Partnership Agreement

THIS AGREEMENT MADE THIS ______ day of _________, _______

BETWEEN:

_______________
of _______________

- AND -

_______________
of _______________

BACKGROUND

This Common-law Partnership Agreement is made between _______________ and


_______________ (collectively, "the parties") who presently reside together, or intend
to reside together at a future time. The parties wish to enter into a common-law
relationship, although there is no present intention to marry.

The parties are setting forth in this Agreement their respective rights for the status,
ownership, and division all property either owns or acquires both before and during
the partnership. They are also setting forth their rights regarding support or
maintenance.

In consideration of the fact that unhappy differences may arise between the parties,
the parties desire that the terms set forth in this Agreement will govern the distribution
of their present and future property and/or assets, to as great a degree as permitted by
statutory or case law. Furthermore, the parties intend that any applicable legislation
which may be applicable shall not be applied to them.

Information about each of the parties' assets, liabilities, and approximate current
income has been exchanged prior to entering into this Agreement, and each party has
provided a summary of such information, in writing, to the other. Each party

Copyright (c) 2006 - 2019 Page 1


Used under licence by Documatica Legal Forms Inc.

SAMPLE DOCUMENT
acknowledges that they have been provided with the opportunity to fully examine the
disclosures of the other party. Each party has voluntarily and expressly waived their
right to legal counsel, after being provided with the opportunity to consult with legal
counsel of their choosing in their respective jurisdictions.

Each party affirms the following:

1. THAT the parties executed this Agreement voluntarily and under no duress or
undue influence;
2. THAT this Agreement was not unconscionable at the time of execution;
3. THAT each party received a disclosure of the assets and liabilities of the other
party, and that, in the opinion of the receiving party, this disclosure was fair and
reasonable.
4. THAT each party could conceivably have had an adequate knowledge of the
assets and liabilities of the other party.
5. Both parties acknowledge that they have had a reasonable time to review this
Agreement, and consult with legal counsel if necessary, before executing this
Agreement.

THEREFORE in consideration of the approaching common-law partnership, and the


mutual promises hereinafter set forth and for other good and valuable considerations,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

SEPARATE PROPERTY

This sample represents only part of a completed document.


The remainder of the document has been intentionally omitted.

Copyright (c) 2006 - 2019 Page 2


Used under licence by Documatica Legal Forms Inc.

SAMPLE DOCUMENT

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