Choosing to move in with your significant other is a big step, even if you’re not married. Problems can pop up, and it’s important to protect yourself against them, even if you don’t think they will arise. Speaking to lawyers can help you ensure that all your bases are covered, but I will run through one important document in this article – the cohabitation agreement.
What is a cohabitation agreement?
Cohabitation agreements are legal documents that protect both couple members from unnecessary legal and financial complications if their relationship breaks down. Without an agreement, a broken de facto relationship can become messy to the point where it’s often treated like a divorce.
Fortunately, cohabitation agreements allow couples to live together in much the same way as married couples without many complications. They let couples apply for mortgages, get joint bank accounts, and make important life decisions together without too much risk.
In many ways, a cohabitation agreement is like a prenuptial agreement, allowing each member of the couple to protect their assets and their finances.