Expert Cohabitation Agreements
A cohabitation agreement (also known as a cohabitation contract, cohabitation deed or living together agreement) is an agreement entered into by two or more people who live together. In the UK there is no such thing as a common-law husband, wife or civil partner. This means that the law makes assumptions about your circumstances and particularly your financial circumstances that mean that sometimes they are not representative of the true situation.
What is a cohabitation agreement?
A Cohabitation Agreement sets out the Parties’ respective interests in the Home, how household expenses are to be paid during cohabitation and outlines what should happen if the Parties no longer want to live together. This Agreement can be entered into when:
- Parties in a relationship decide to live together but do not intend to marry or enter into a civil partnership.
- Parties who have entered into a joint venture by pooling their financial resources have bought a home to live in together.
A cohabitation agreement is distinct and separate from a pre-nuptial or pre-civil partnership agreement. The law does not give cohabitees the same rights to financial support or to share in their partner’s assets on the breakdown of their relationship, in the same way as spouses and civil partners are permitted to.
The agreement can include matters relating to:
- Financial liability for rent, mortgage or bills
- Lump sums
- Joint or individual accounts
- Contributions by both parties
- Agreements pertaining to the purchase of goods such as furniture, household goods, motor vehicles etc
- Arrangements and financial support/liability pertaining to children
- Arrangements and financial support/liability pertaining to pets
- Property and assets owned by one party prior to cohabitation
- Debts held by the parties prior to cohabitation
- Wills in the event of death
The agreement can be tailored around your individual needs and requirements.
Homeownership and declaration of trust
The Home that the Parties occupy can be owned by one of them, co-owned by them together (in equal or unequal shares), owned by a third party or even rented. The parties can set down within the Cohabitation Agreement how the property is held between them and include a declaration of trust setting out their respective beneficial interest in the property. Including a declaration of trust can avoid the cost and uncertainty of litigation if and when the cohabitation ends.
Our expert legal advisors are able to advise you of what you might like to include in your cohabitation agreement, the options open to you and prepare additional documents in support of such an agreement (such as a declaration of trust).
OUR COHABITATION AGREEMENT SOLICITORS
Our cohabitation agreement solicitors are able to advise you of what you might like to include in your cohabitation agreement, the options open to you and prepare additional documents in support of such an agreement (such as a declaration of trust). Preparing a cohabitation agreement which sets out how you and your partner live together can be extremely useful in all situations. This can be a simple process that is done sensibly. If you live with your partner and are not married, we strongly recommend preparing a cohabitation agreement to protect your interests.
To create a Cohabitation Agreement give us a call and discuss the arrangement with one of our trusted solicitors.