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Common Law Partner Agreement Template for India

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Key Requirements PROMPT example:

Common Law Partner Agreement

"I need a Common Law Partner Agreement for a couple where one partner owns a successful tech startup and has significant pre-existing assets, while the other partner is leaving their job to support the business; the agreement should especially focus on business asset protection and fair compensation for career sacrifice."

Document background
The Common Law Partner Agreement serves as a crucial legal instrument for couples choosing to live together without formal marriage in India. While Indian law does not explicitly regulate live-in relationships, judicial precedents have established their validity and rights. This agreement becomes essential in defining the terms of cohabitation, financial arrangements, property rights, and potential separation procedures. It incorporates provisions aligned with Indian judicial precedents and relevant legislation, including the Protection of Women from Domestic Violence Act, 2005, and various Supreme Court judgments that recognize rights in relationships 'in the nature of marriage'. The document is particularly relevant in urban settings where live-in relationships are becoming more common, and for couples seeking to establish clear legal and financial frameworks for their relationship.
Suggested Sections

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

2. Background: Context of the relationship, including duration of cohabitation if applicable, and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Nature of Relationship: Declaration of the partners' intention to live together as common law partners and acknowledgment of the relationship's legal status

5. Cohabitation Terms: Details about living arrangements, shared residence, and household responsibilities

6. Financial Arrangements: Agreement on sharing of expenses, joint accounts, and financial responsibilities

7. Property Rights: Classification and ownership of separate and jointly acquired property

8. Mutual Rights and Obligations: Partners' commitments, responsibilities, and expectations from each other

9. Dispute Resolution: Process for resolving disagreements and conflicts

10. Separation Provisions: Procedures and arrangements in case of relationship breakdown

11. Governing Law: Specification that the agreement is governed by Indian law

12. Execution: Signing and witness requirements

Optional Sections

1. Children: Provisions regarding existing or future children, including custody and support arrangements - include if partners have or plan to have children

2. Medical Decisions: Authority for medical decision-making in case of incapacity - recommended for longer-term relationships

3. Insurance and Benefits: Arrangements regarding life insurance, health insurance, and other benefits - include if partners plan to share insurance coverage

4. Intellectual Property: Protection of individual intellectual property rights - include if either partner has significant IP assets

5. Business Interests: Protection of individual business interests and shared business ventures - include if either partner owns a business

6. Religious Observances: Agreements regarding religious practices and observances - include if partners have different religious backgrounds

7. Power of Attorney: Mutual powers of attorney for various purposes - include for more comprehensive agreements

8. Succession Rights: Rights of surviving partner in case of death - include if partners wish to address inheritance

Suggested Schedules

1. Schedule A - Asset Schedule: Detailed list of each partner's separate assets at the time of agreement

2. Schedule B - Liabilities Schedule: List of each partner's separate debts and liabilities

3. Schedule C - Shared Property Inventory: List of jointly owned property and agreed ownership proportions

4. Schedule D - Household Expenses: Breakdown of shared household expenses and contribution proportions

5. Schedule E - Financial Disclosure: Financial statements of both partners

6. Appendix 1 - Dispute Resolution Procedures: Detailed procedures for conflict resolution and mediation

7. Appendix 2 - Separation Procedures: Detailed procedures and calculations for property division upon separation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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