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In Nevada, a cohabitation agreement is a contract between unmarried couples living together, similar to a prenuptial agreement, outlining property division in the event of a breakup. Key points to note include: 1) Cohabitation agreements can be made in writing, verbally, or through conduct, but it's strongly advised to formalize the agreement in a written contract to ensure enforceability in court. 2) These agreements allow couples to determine their property arrangements, whether as community property, separately, or a combination of both. 3) Common terms may include "palimony," where one partner provides financial support to the other after a breakup, along with other possible provisions.