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In Nevada, a cohabitation agreement is a contract for unmarried couples living together, similar to a prenuptial agreement, outlining property division in case of breakup. Here are three key points: 1) While these agreements can be made in writing, verbally, or through conduct, it is strongly recommended to formalize them in a documented contract to ensure enforceability in court. 2) Couples can determine their property arrangement, whether as community property or keeping assets separate, or a combination of both. 3) Commonly included is "palimony," where one partner provides financial support to the other post-breakup, along with other customized provisions.