You’re in Love and you’re living together. Fantastic.
Its time for a Cohabitation agreement – it may not sound romantic and fun, but it is certainly a necessity.
Whether living together in a rented home or one of your own it is a huge commitment to move in with someone and share their life. It is good to be aware that cohabiting couples have fewer protections under the law than married couples and so when things go wrong, they can go really wrong!
A Cohabitation Agreement is a contract between people living together in the same household that offers protection for both individuals. It provides clarity on property and finances as well as including such things as rent payments, mortgages, and items purchased together. A Cohabitation Agreement will help make it crystal clear on who contributes what to the bills and the home. Courts view Cohabitation agreements as a form of legal contract that you both entered into with full knowledge of what you are agreeing to and how to organize your life should things fall apart down the road.
Without this type of agreement, it can leave the partners in a vulnerable situation if the relationship goes south. Cohabitating couples do not have the same rights as Married couples and so, unfortunately, if you have invested in maintaining and upkeeping a property and you have to move out, you may not be able to recoup any of that investment.
We understand that this can be a difficult conversation to start but this dialog is an important one and can save stress and finances in the future.
If you have questions, concerns, or just need guidance with regard to a Cohabitation Agreement, Mediated Online Services can help. Let’s Get in Touch.
