At my invitation, a young couple will be moving into the 3rd level of my home until their financial situation eases. The space has a large living room, a small kitchen that I'm putting in for them, a large walk in-closet, bathroom, bedroom, and access to a laundry room. How can I word an agreement that will protect me and also include a time limit on their stay? What if I should wish to sell my home? How can I protect myself should they have an accident? Am I responsible?

Where do you live? You need to include that info to make sure you comply with the local laws.

I live in Beverly Hills, California

Is the home listed as multi family that allows you to rent it out.

Even without pay, it is still a rental, just a no payment rental.

You will want a rental agreement that gives you right to have them leave with proper notice, right to change rent to a money rental with proper notice and more.

*** now of course I will say that unless you know them very very well, I would not do this, I have never ever let anyone stay free without it coming back to haunt me.

Keep it simple. State that you are providing so and so lodging in your home until they can afford their own accommodations. That when you feel they are ready you will give them 30 days notice to vacate.