If you’re moving in together and want to be sure your legal rights are safeguarded, consider getting a cohabitation agreement. This is a document that details how you will split your money and property if the relationship concludes.
It’s vital to note that cohabitation agreements are not completely enforceable in court, so they cannot be used as legal evidence. They may, nevertheless, be presented as proof in any future lawsuits.
There are several things to consider while drafting a cohabitation agreement, such as:
- What are your plans for sharing expenses and other charges?
- Who will have the rights to what property (such as a family home)?
- How will you handle any joint debts if they arise?
- What will happen if one of you decides to terminate the relationship?
If you and your partner are willing to put everything in writing, a cohabitation agreement might be an excellent method to avoid future problems. If you have any queries, it is always a good idea to consult with a lawyer before signing anything.
A cohabitation agreement may be used to safeguard both parties if the relationship comes to an end, but they are not legally enforceable in court. This implies that if one or both of you want the relationship to terminate, the agreement cannot be enforced.
A cohabitation agreement, on the other hand, can be used as evidence in any future court case, so it may be a wonderful method to avoid future issues. If you and your spouse are amenable to putting everything down in writing, a cohabitation agreement might help you avoid any conflicts.
If you’re considering entering into a cohabitation agreement, talk to a lawyer before signing anything. They can give you legal counsel and make sure the arrangement is acceptable for both parties.