The Most Effective Cohabitation Agreement Advice Available
Increasingly people are choosing to live together either as unmarried couples or buying and living with other friends or relatives.
Anyone who is living in these circumstances should be aware of their legal rights as they may face difficulties should the cohabiting relationship breakdown.
A Cohabitation Agreement, sometimes called a living together agreement, can be written to outline what will happen if this occurs.
It is a common misconception that if you cohabit with another person in a relationship for a number of years, paying the mortgage jointly, that you automatically receive the same equal rights as those awarded to couples in the marital home.
To correct all of these misconceptions, receive the very best cohabitation advice, and experience the smoothest Cohabitation Agreement process possible – get in touch with our Cohabitation Agreement solicitors today.
Cohabitation Agreement – The Specifics
A cohabiting couple do not receive the same protection under the law as a married couple which can make resolving problems complex. A Cohabitation Agreement is a legal contract formed between cohabitees that determines what happens to their assets in the case of a separation.
The agreement should define the substantial assets, including any properties, bank accounts, savings, investments and valuable independent chattels. The Cohabitation Agreement can also contain details as to how the cohabitees will contribute towards the household costs whilst cohabiting.
Alternatively, should a cohabiting couple decide to get married we can provide the necessary documents to create a pre-nuptial agreement.
In the event that a formal agreement has not been entered into, we can assist you in dealing with any issues arising from your separation and reaching an agreement regarding the division of assets.
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Frequently Asked Questions on Cohabitation Agreements
A cohabitation agreement (sometimes referred to as a living together agreement) is a legal contract between two people who wish to formally document and regulate the terms of their living arrangements and to set the terms of what should happen between them, on a financial basis, should they separate. Like any contract, it is legally binding and is more weighted if parties have had independent legal advice on the agreement. If either party attempt to set aside the terms of the agreement and not abide by them then its terms could be disputed through the courts.
Ideally parties should enter into a cohabitation agreement at the outset of them starting to live together. The agreement does not have an expiry date, although it is good practice to review the agreement at regular intervals such as 2 or 5 years. Should a couple decide that they wish to enter into marriage or civil partnership, then a cohabitation agreement would become redundant and could be replaced by a pre-nuptial agreement or a pre-civil partnership agreement.
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