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In Nevada, a cohabitation agreement, similar to a prenuptial agreement, is a contract for unmarried couples living together, outlining property division in case of a breakup. Key points include: 1) While cohabitation agreements can be verbal or implied, it's strongly recommended to document them to ensure enforceability in court. 2) Couples can create their own property arrangements, choosing between community property, separate property, or a mix of both. 3) The agreement can include terms for palimony, where one partner provides financial support to the other after separation. Such agreements can also address various other provisions as needed.