Cohabitation Agreement Advice

We are often approached by people in this situation. Here are some constructive tips on concubine agreements that can be extremely beneficial for couples who don`t want to get married. If you live with your partner or plan to live together (whether as a heterosexual or same-sex couple), you can enter into a concubibinat agreement (sometimes called a life agreement). This can determine the ownership of existing assets (including ownership), what your financial responsibility will be to each other, and how savings and jointly managed assets will be distributed if you divide up later. There are changes that may cause common law couples to be covered by the Marriage Property Act. Stay informed and seek legal advice on the impact this could have on an agreement you have reached. A concubine contract is suitable for any couple who live together and do not intend to marry or enter into a partnership in the near future. It determines what will happen to wealth and finance if the unmarried couple decides to separate. On the other hand, a marriage contract (or a pre-Erzian partnership contract) is intended for couples who are preparing to have their relationship legally recognized by marriage or life partnership and who want a different regime from that normally allowed by law if they divorce or resolve their partnership.

An agreement that defines what would happen if you separated is not an admission you think you`re going to make, more than demolishing real estate insurance means you think your home is going to collapse. Independent Legal Advice – When drawing up a concubine contract, you both need to get independent legal advice to make sure it is binding and that there is no doubt about what you both agree. This way, the court will take note of your agreement much earlier and put you into effect if you separate. There should also be a disclosure of your financial situation. The document must be run in the form of a document. . . .

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