• In the event of the parties separating, or upon the death of a party, any jointly-acquired or jointly-held property will be deemed to be owned equally with each party entitled to fifty (50%) of the net equity of the property, regardless of the initial or ongoing proportion of each party's investment, unless the parties otherwise agree in writing.
  • Nothing in this agreement will prevent or invalidate any gift, or transfer for value, from one party to the other of present or future property provided such gift or transfer is evidenced in writing signed by both parties.
  • Unless a party can reasonably show that he or she solely owns a piece of property, where either party commingles jointly owned property with separate property, any commingled property shall be presumed to be jointly-owned property of the parties.
    DEBTS


  • The separate debts owing by each party at the execution of this Agreement, however and whenever acquired, will be owed solely by such party at all times and will remain the separate debts of such party after the execution of this Agreement, with no financial obligations owing by the other party upon separation or otherwise.
  • The parties hereby acknowledge that with respect to any determination of responsibility of debts that may occur in the event of the parties separating, all debts will be treated as separate debts owed solely by one party unless there is proof of joint financial obligations.
  • Unless a particular debt is documented as being owed by both parties, the following types of debts will not be deemed as shared debts:

    1. any debts already owing by one party at the date of execution of this Agreement; and
    2. any debts incurred by one party during cohabitation.
  • The shared debts owed by both parties at the execution of this Agreement, however and whenever acquired, will be owed by both parties at all times and will remain the debts of both parties after the execution of this Agreement.
  • In the event of a separation, each party will be financially responsible for 50% any jointly-acquired or jointly-held debts, regardless of the initial or ongoing proportion of each party's borrowed amount, unless the parties otherwise agree in writing.
    SUPPORT


  • The parties agree that the investment of time or labour with respect to personal service in the property of the other, or otherwise, will be deemed to have been made gratuitously, and without expectation or right of compensation unless agreed to the contrary in writing.
  • It is the intention of the parties to forever release each other from any alimony or support obligations now and in the future no matter how their circumstances may change. They will not apply now or in the future under any Federal or Provincial legislation for support. They each waive any rights they may have to proceed against the other under any law or statute for payments of alimony or support and rely upon the law of contract to govern in respect of this issue.
  • The parties realize that their respective financial circumstances may be altered in the future by changes in their health, the cost of living, their employment, their marital status, the breakdown of their relationship, or otherwise. No such changes will give either party the right to seek support under any legislation, Federal or Provincial. It is understood by each party that this Agreement represents a final disposition of all maintenance and support issues between them.
    SEVERABILITY


  • Should any portion of this Agreement be held by a court of law to be invalid, unenforceable, or void, such holding will not have the effect of invalidating or voiding the remainder of this Agreement, and the parties agree that the portion so held to be invalid, unenforceable, or void, will be deemed amended, reduced in scope, or otherwise stricken only to the extent required for purposes of validity and enforcement in the jurisdiction of such holding.
    INTENTION OF THE PARTIES


  • Notwithstanding that the parties acknowledge and agree that their circumstances at the execution of this Agreement may change for many reasons, including but without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
    DUTY OF GOOD FAITH


  • This Agreement creates a fiduciary relationship between the parties in which each party agrees to act with the utmost of good faith and fair dealing toward the other in all aspects of this Agreement.
    FURTHER DOCUMENTATION


  • The parties agree to provide and execute such further documentation as may be reasonably required to give full force and effect to each term of this Agreement.
    TITLE/HEADINGS


  • The headings of this Agreement form no part of it, and will be deemed to have been inserted for convenience only.
    ENUREMENT


  • This Agreement will be binding upon and will enure to the benefit of the parties, their respective heirs, executors, administrators, and assigns.
    GOVERNING LAW


  • The laws of the Province of Ontario will govern the interpretation of this agreement, and the status, ownership, and division of property between the parties wherever either or both of them may from time to time reside.
    TERMINATION OR AMENDMENT


  • This Agreement may only be terminated or amended by the parties in writing signed by both of them.


    The parties hereby execute this agreement on the day and year first written above.

    ________________________
    ________________


    ________________________
    ________________





    CERTIFICATE OF ACKNOWLEDGEMENT


    PROVINCE OF _________________

    1. This document was acknowledged under oath to my satisfaction by ________________ apart from ________________.

    2. ________________ acknowledged to me:

      1. THAT he is aware of the agreement and understands the provisions of the same.

      2. THAT he is aware of the possible claims to property that he may have under the existing Provincial legislation and that he intends to give up these claims to the extent necessary to give effect to the agreement.

      3. THAT he is executing this document freely and voluntarily without any compulsion on the part of ________________.

    DATED at the City of _________________, in the Province of _________________, this _____ day of ____________, 20___.


    ________________________
    NOTARY PUBLIC
    Print Name:_________________




    My Commission Expires:
    ________________________

    CERTIFICATE OF ACKNOWLEDGEMENT


    PROVINCE OF _________________

    1. This document was acknowledged under oath to my satisfaction by ________________ apart from ________________.

    2. ________________ acknowledged to me:

      1. THAT he is aware of the agreement and understands the provisions of the same.

      2. THAT he is aware of the possible claims to property that he may have under the existing Provincial legislation and that he intends to give up these claims to the extent necessary to give effect to the agreement.

      3. THAT he is executing this document freely and voluntarily without any compulsion on the part of ________________.

    DATED at the City of _________________, in the Province of _________________, this _____ day of ____________, 20___.


    ________________________
    NOTARY PUBLIC
    Print Name:_________________




    My Commission Expires:
    ________________________


    CERTIFICATE OF INDEPENDENT LEGAL ADVICE


    PROVINCE OF _________________


    I, ____________, of the City of ____________, in the Province of Ontario, Barrister and Solicitor, DO HEREBY CERTIFY:

    1. THAT I was this day consulted in my professional capacity by ________________, named in the within instrument, being a Cohabitation Agreement, separate and apart from ________________, as to his legal rights and liabilities under the terms and conditions of it, and that I acted solely for him, and explained fully to him the nature and effect of the said Cohabitation Agreement and he did execute it in my presence, and did acknowledge and declare that he was executing it of his own volition and without any fear, threats, compulsion or influence from ________________, or any other person.

    DATED at the City of ____________, in the Province of ____________, this ____________ day of _________, 20___.


    ________________________
    BARRISTER & SOLICITOR
    Print Name: _________________





    CERTIFICATE OF INDEPENDENT LEGAL ADVICE


    PROVINCE OF _________________


    I, ____________, of the City of ____________, in the Province of Ontario, Barrister and Solicitor, DO HEREBY CERTIFY:

    1. THAT I was this day consulted in my professional capacity by ________________, named in the within instrument, being a Cohabitation Agreement, separate and apart from ________________, as to his legal rights and liabilities under the terms and conditions of it, and that I acted solely for him, and explained fully to him the nature and effect of the said Cohabitation Agreement and he did execute it in my presence, and did acknowledge and declare that he was executing it of his own volition and without any fear, threats, compulsion or influence from ________________, or any other person.

    DATED at the City of ____________, in the Province of ____________, this ____________ day of _________, 20___.


    ________________________
    BARRISTER & SOLICITOR
    Print Name: _________________
    //end hide-->
    Last Updated:       CanLaw Inc.   

    Ask CanLaw