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In Nevada, a cohabitation agreement is a contract for unmarried couples who live together, similar to a prenuptial agreement, outlining property division in the event of a breakup. Key points to note are: 1) While cohabitation agreements can be verbal or implied, it is strongly recommended to formalize them in writing to ensure enforceability in court. 2) Couples have the flexibility to define their property arrangement, choosing between community property, separate property, or a mix of both. 3) Common terms may include provisions for palimony, where one partner provides financial support to the other after a breakup, as well as various other specific terms related to their financial arrangement.
