More and more people are choosing to live together rather than get married or enter into a civil partnership. There is a popular myth that couples who have lived together for years eventually acquire some legal rights similar to those enjoyed by people who marry or enter into civil partnerships. There is no such thing as a “common law” husband or wife and instead the financial issues relating to property are resolved through the law of trusts.
It is normally the case that prevention is better than cure. A cohabitation agreement is a relatively straightforward agreement which can allow both cohabitating parties to understand and protect their interests, and potentially avoid an expensive and draining dispute in the future.
Each cohabitation arrangement will be different but the following points should be considered:
- Who will pay what towards the bills and mortgage?
- Does a party have an interest in a solely owned property?
- How will furniture and belongings be divided?
- Inheritance and Wills.
If you would like us to draft a cohabitation agreement then please contact us today for a free no obligation telephone consultation.