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Agreement between Unmarried Individuals Page 1 of 5 Agreement between Unmarried Individuals to Purchase and Hold Residence as Joint Tenants with Right of Survivorship This Agreement is made as of the day of , 20 , by and between of , (Name of John Doe) (Street Address) , hereinafter called Doe, and , (City, County, State, Zip Code) (Name of Jane Smith) of , hereinafter called Smith, both of whom are (Street Address, City, County, State, Zip Code) over the age of twenty-one (21) and unmarried. Whereas, Doe and Smith have acquired or are about to acquire a house and lot, hereinafter called the Property, situated at , more (Street Address, City, County, State, Zip Code) particularly described in Exhibit A attached hereto and made a part hereof; and Whereas, it is the intention and desire of Doe and Smith that the described Propertybe owned by them as joint tenants with right of survivorship, with each tenant to own an undivided one-half interest in the Property. NOW, THEREFORE, for and in consideration of the terms and covenants of thisAgreement, and other valuable consideration, the receipt of which is acknowledged, the Parties agree as follows: 1. The Parties shall create a joint tenancy with right of survivorship in and to the Property described above by executing a Deed, a copy of which is attached hereto as Exhibit B and made a part hereof and whereby John Doe and Jane Smith
Hereby agree to purchase the property for an undetermined fair market value as a single joint tenancy with right of survivorship (hereinafter, referred to as the “purchase agreement") and the receiving party agrees to assume and deliver to each of the following, jointly with right of survivorship, upon execution of the purchase agreement, the real and personal property, real estate and real rights of every description, situated in the county of (state, zip code) and in each of such county, for the use and benefit of all owners hereof or their survivors, together with any interest or assets of any type whatsoever that may be of any description or in any form, including without limitation mortgages, encumbrances, liens, security interests, liens on title or other liens; provided, however, that upon execution of the purchase agreement and acceptance by the respective owners of the consideration set forth in this agreement each owner shall not be required to pay any more than the greatest of (i) one and one-half percent (1\1/2%) or eighty-four thousand dollars (84,) plus the first fifteen thousand dollars (15,) or the amount of the last payment, whichever is greater, plus one thousand dollars (1,). The party or persons by whom the property is conveyed, delivered or otherwise conveyed shall execute a deed, a copy of which is attached hereto as exhibit c, and make a release of all liens and interest in and to that property. 2. Each party shall acknowledge and have executed this agreement, the contents of which are not subject to amendment, before any conveyance or transaction with respect to the property described above. Each party in the transaction shall execute a deed, a copy of which is attached hereto as exhibit e and made a part hereof, and shall be subject to forfeiture of the consideration or rights given for the property described above, including liens, interest or obligations, other than liens, interest or obligations relating to obligations to mortgage or hypothesize the property, on and contrary to section 3. 6. Prior to the exchange of any deed of sale or similar conveyance, all liens and encumbrances with respect to the same shall be removed or discharged, other than liens which may arise from any mortgage or other security interest for the payment of money, or any security interest in the personal property, real estate or real rights described above, in respect of which the parties have or are about to acquire.