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A cohabitation agreement in Nevada is a contract between unmarried couples, similar to a prenuptial agreement. It outlines how property will be divided in case of a breakup. The agreement can be in writing, verbal, or through conduct, but it is recommended to have it notarized for easier enforcement. Unmarried couples can choose any property arrangement they want, including owning property as community property or keeping everything separate. Palimony, financial support payments after a breakup, can also be included in the agreement.