What Is A Cohabitation Agreement?
A Cohabitation Agreement is a contract between an unmarried couple who have chosen to live together. The agreement will set out some basic terms regarding the couple’s assets, debts and other property divisions. Importantly, in order to ensure the validity of this agreement, it must be executed properly and signed as a deed.
The couple in many ways will be treated like a married couple, when applying for a mortgage for example, or in matters relating to child support.
Cohabitation Agreement Key Terms
The benefits to a cohabitation agreement template include:
- Define the role as a “cohabitant“, while living with your partner
- Outlining the financial terms of living with your partner
- Outlining how your property and assets are owned with your partner
- Protecting yourself from your partner’s debts