Overview
A Cohabitation Agreement is a legally binding contract created by couples who choose to live together but want to establish some financial boundaries and responsibilities.
Full Details
What is a Cohabitation Agreement?
A Cohabitation Agreement is a legally binding contract created by couples who choose to live together but want to establish some financial boundaries and responsibilities.
These agreements are used by both heterosexual and same-sex couples who are not married or in a civil partnership but wish to set clear terms about what happens to their assets and finances in case their relationship ends.
What are the benefits of creating a Cohabitation Agreement?
- Protection of Assets: It can protect each person's assets by distinguishing between joint and individual property and determining how assets will be divided if the relationship ends.
- Clarity: It brings clarity to the financial aspects of the relationship, reducing potential conflicts over financial matters.
- Legal Framework: It provides a legal framework to handle any financial disputes, and to decide what happens to shared assets if the relationship dissolves.
- Flexibility: The agreement is flexible and can be customised to fit the specific needs of the couple.
Solution