In today’s world more couples are choosing to live together without getting married. While this lifestyle choice offers flexibility and freedom, it also carries a legal grey area that can pose risks and complications if the relationship were to end. Obtaining a Cohabitation Agreement is a practical solution that aids unmarried couples define their rights and responsibilities, offering clarity and protection in event of separation, illness or death.
Why is a Cohabitation Agreement important?
- Legal Protection
Unlike unmarried couples, cohabitating partners do not have automatic legal rights to each other’s assets, property or inheritance. An agreement ensures that both parties are legally protected and that expectations are clearly stated.
- Financial Clarity
The agreement can specify how bills will be paid, who owns what, and how joint purchases are divided. It reduces the likelihood of any financial disputes arising if the relationship were to end.
- Property Ownership
Whilst a very exciting next step for a couple to take together, buying a property is not one that should be taken without the consideration of how the ownership is to be divided. Has one party received a gift from family? Has one party contributed towards the deposit more than the other? Should one pay a greater share of the mortgage payments? These factors can be considered when drawing up a Cohabitation Agreement.
A Cohabitation Agreement is a must-have for any couple who, sensibly, want to ensure clarity, fairness, and security. If you’re living with your partner, or planning to move in together, now is the right time to consider one. Should you want an initial call with a member of our team, please do not hesitate to get in touch.
‘’The proportion of people aged 16 years and over living in a couple who were cohabiting (not in a marriage or civil partnership) increased from 19.7% in 2012 to 22.7% in 2022, equivalent to 5.4 million people in 2012 and 6.8 million people in 2022.’’