Common use of Joint Ownership Clause in Contracts

Joint Ownership. The Parties’ marital residence will be treated as marital property and owned equally by both Parties. ☐ In the event the marriage is terminated, the (Check one) ☐ First Party ☐ Second Party shall have the right to continue living in the Parties’ marital residence for years after the termination of the marriage. ☐ Do not specify.

Joint Ownership. The Parties’ marital residence will be treated as marital property and owned equally by both Parties. Party to remain in the marital home (Check one) ☐ In the event the marriage is terminated, the (Check one) ☐ First Party ☐ Second Party shall have the right to continue living in the Parties’ marital residence for __________ years after the termination of the marriage. ☐ Do not specify.

Joint Ownership. The Parties’ marital residence will be treated as marital property and owned equally by both Parties. ☐ Party to remain in the marital home: In the event the marriage is terminated, the (Check one) ☐ First Party ☐ Second Party shall have the right to continue living in the Parties’ marital residence for 5 years after the termination of the marriage. ☐ Do not specify.