5. How Will the Timing of Our Arrangement Work?
There are a few things you might want to discuss with regard to the timing of your arrangement:
- When does the arrangement begin?
- Is there a set ending date? For example, you might decide to share a car until your graduate school program ends.
- What sorts of events would cause your arrangement to end? For example, if you take down your fence and share a yard with your neighbor, you might want to agree to put the fence back up when one of you sells your house.
- Do you want to start the sharing arrangement on a trial basis? For example, you could agree to start sharing, but reassess after three months.
- Do you want to set any deadlines? For example, you might start sharing your car and agree that your sharing partner will pay you $3,000 in two months to become a co-owner.
- Will your sharing arrangement happen in phases? For example, you might agree in writing to purchase land together, enter into a second agreement when you start construction, and enter into a third agreement when the construction is finished and you begin living together.
EXAMPLE: To save money, Lori, Jeff, and Frank shared Lori's car while they were attending a three-year law school program. They wrote the following in their agreement:
"We will begin sharing the car on the day we sign this agreement and stop sharing the car on May 1, 2011, when we graduate."