The Importance of a Cohabitation Agreement
Couples thinking of moving in together often don’t think about what would happen with the house if they were to break up, however it is something that they should consider.
Whilst married couples enjoy protection if the relationship ends, these rights do not apply to couples cohabiting.
Cohabitation is the fastest-growing ‘family type’ in the UK, increasing to 3.3. Million in the last year.
When a cohabiting couple break up, the ownership of their home is likely to take up a large amount of dispute. This is because both parties claim that they have a share in the property, contributing financially towards the home.
What is a Cohabitation Agreement?
A Cohabitation Agreement establishes what each individual contributes to the property and what they pay to the household expenditure. This offers vital protection to cohabitating couples, as it serves as proof if the couple split. This helps to remove uncertainty, and can in turn benefit both individuals.
How is a Cohabitation Agreement set up?
Drawing up a Cohabitation Agreement is a good idea for couples, but should be drawn up by legal professional, as it needs to be enforceable in a court.
What happens if we don’t draw up a Cohabitation Agreement?
Without a Cohabitation Agreement, a break up can lead to a complex and stressful situation, and if family or children are involved it could result in even more pressure.
If you would like to draw up a Cohabitation Agreement, or require more information, get in touch today with our qualified family lawyers.