Cohabitation agreements are contracts under law and can address arrangements which will apply whilst an unmarried couple live together. They can also deal with what should happen to their assets if the couple separates.
When are cohabitation agreements useful?
Cohabitation agreements can be as detailed or as general as a couple require. They can, for example, explain how bank accounts and joint assets should be divided in the event of a relationship breaking down. They can also confirm that where a property is owned by one person alone, their partner will not acquire any entitlement to it simply by moving in or carrying out work on that property which might enhance its value.
A cohabitation agreement can also be particularly useful if you are putting a greater share of the money into the purchase of a property with your partner. This is often the case where money may have come from relatives and you wish to ensure that in the event that the property is sold at separation, that the money would be recouped to pay those relatives back.
Our Family Law team can provide you with advice on cohabitation agreements and whether they would be of assistance to you.