Common use of Housing Arrangements Clause in Contracts

Housing Arrangements. (Check one) ☐ Do not specify. ☐ Parties own the marital home. The Parties’ marital residence located at _______________________ ____________________ is owned by (Check one) ☐ the First Party ☐ the Second Party ☐ both parties, in accordance with the property deed. (Check one) ☐ The First Party ☐ The Second Party ☐ Both Parties will be equally responsible for the mortgage payments, real estate property taxes, and/or other maintenance expenses related to the residence. Division of marital home (Check one) ☐ The residence will remain as the non-marital, separate property of the First Party during and after the marriage. ☐ The residence will remain as the non-marital, separate property of the Second Party during and after the marriage. ☐ The residence will be treated as marital property and owned equally by both Parties. Party to remain in martial home (Check one) ☐ In the event the marriage is terminated, the First Party shall have the right to continue living in the Parties' marital residence for a period of __________ years after the termination of the marriage. ☐ In the event the marriage is terminated, the Second Party shall have the right to continue living in the Parties' marital residence for a period of __________ years after the termination of the marriage. ☐ Not applicable. ☐ Parties rent the marital home. The Parties’ marital residence located at ________________________________________. For the lease payments, rental insurance premiums and/or any other maintenance expenses related to the residence, (Check one) ☐ the First Party will be responsible ☐ the Second Party will be responsible ☐ both parties will be equally responsible. Party to remain in martial home (Check one) ☐ In the event the marriage is terminated, the First Party shall have the right to continue living in the Parties' marital residence. ☐ In the event the marriage is terminated, the Second Party shall have the right to continue living in the Parties' marital residence. ☐ Not applicable.