cohabitation
agreements
cohabitation
agreements
Moving in together? Know your rights with a cohabitation agreement
Moving in together? Know your rights with a cohabitation agreement
A cohabitation agreement is a written, signed document made between unmarried couples who have moved in together or are planning to do so.
It sets out where you stand regarding arrangements for finances, property and children while you’re living together and if you split up, become ill or die.
Whilst they are not legally binding, if properly drafted, the terms are reasonable and both parties have had separate, independent legal advice, then a court is likely to uphold the terms of it in the event of a future disagreement.
Why are cohabitation agreements important?
Why are cohabitation
agreements important ?
If you decide to move in with your partner, you don’t automatically have rights like married couples. This applies even if you’ve lived together for a long time and have children. You may wish to consider one if you decide to have children or get a mortgage.
A Cohabitation Agreement can also be drawn up if you’re not romantically linked, such as friends or siblings. It is advisable to take a Cohabitation Agreement out before you move in together; without one, you don’t have many rights.
If you decide to move in with your partner, you don’t automatically have rights like married couples. This applies even if you’ve lived together for a long time and have children. You may wish to consider one if you decide to have children or get a mortgage.
A Cohabitation Agreement can also be drawn up if you’re not romantically linked, such as friends or siblings. It is advisable to take a Cohabitation Agreement out before you move in together; without one, you don’t have many rights.
The top five points to consider
when putting a cohabitation agreement in place ?
The top five points to consider when putting a cohabitation agreement in place ?
The length of the cohabitation period
What assets will be included in the agreement – this could consist of property, investments, and bank accounts
Clarification of any financial arrangements – this could include how bills will be split and who will pay for any renovations or other costs
What happens if the cohabitation ends – this is important to consider in case of separation
How disputes between the cohabitants will be resolved – it’s best to devise a plan to manage any disagreements.
Before you draw up an agreement
Before you start, you and your partner or the person you’re cohabiting with, should draw up a list of your assets and discuss how they should be divided.
Which assets should be included?
Your assets might include a number of things, including property, investments, pension and savings.
Why choose Astraea Linskills
If you choose Astraea Linskills, we will guide you through what documents you need to make living together a strong agreement.
Other things to consider
Rent or own another property? A cohabitation agreement can credit any property improvement work that either party has paid for.
The cost of a Cohabitation Agreement
The cost of getting an agreement in place can vary depending on the level and complexities of the asset base, so contact us today for a free quotation!
Change in circumstances? Contact us!
If your circumstances change at any point, such as having children or taking out a new mortgage, don’t forget to contact us as this is likely to change the terms of your agreement.
Clarity, security & peace of mind…
A cohabitation agreement can help provide couples much-needed clarity, security, and peace of mind. It can help protect both parties financially and ensure each partner’s rights are respected during separation or death.
Discussing cohabitation agreements can feel uncomfortable and overwhelming. Still, it is essential to remember that cohabitation agreements protect both cohabitants and provide the stability cohabiting couples need.
If you have any questions about cohabitation agreements or want advice on drawing up a contract, please don’t hesitate to contact us here at Astraea Linskills for a consultation.
We are here to help ensure you and your partner are secure in your cohabitating relationship.
Have a question
about
cohabitation
agreement?
contact us today!
If you’d like to book an appointment
or would simply like to speak to one
of our solicitors, please fill in the your
details and we’ll get right back to you.
We look forward to learning how we
can help you!
Have a question about cohabitation agreement?
contact us today!
If you’d like to book an appointment
or would simply like to speak to one
of our solicitors, please fill in the your
details and we’ll get right back to you.
We look forward to learning how we
can help you!
