Household Account. With regards to shared living expenses: Each party agrees to pay ________ percent of their shared living expenses while cohabitating. Expenditures for living expenses or for the common benefit will be made from a joint account, wherein each party shall deposit the percentage stated above. Neither party may draw on the joint account for any purpose other than living expenses, unless otherwise agreed to in writing. Each party must keep the other informed of all withdrawals. To the extent the Parties elect to open and maintain one or more joint bank accounts, each party will have an undivided one‑half interest in the funds on deposit in the account(s) as their Separate Property, unless otherwise agreed to in writing. Each party will have an undivided one‑half interest in all assets acquired with any funds from a joint bank account as their Separate Property, unless otherwise agreed to in writing. If either party dies, all funds remaining in any joint bank account(s) will be the sole and Separate Property of the surviving party.
Household Account. The parties shall maintain a joint checking account as joint tenants for household expenses such as rent, food, household supplies, utilities, and Xxxxxx’s reasonable personal expenses. Xxxxxx will have no obligation to contribute to said account, and all funds which Xxxx contributes to said account shall become the joint property of the parties provided, however, that if said account is subsequently used to make mortgage payments on any property, notwithstanding any other provision of this Agreement, Xxxxxx will not acquire any interest in the ownership of said property by reason of said payments thereon whether for interest or principal. Further, neither party shall cause said account to become overdrawn or otherwise issue drafts or charges in excess of the balance of said account at any particular point in time.
