Cohabitation Agreements: What Are They?

You might not know a lot about cohabitation agreements. If you are curious to know what they are, let me tell you - they are prenuptial agreements for couples who want to live together before they decide to get married. You can be in a cohabitation relationship with your partner without having to get married. This agreement is a legal contract which lends some kind of recognition to the relationship. It protects the personal property in case the couple splits up, much like a prenup.

Need For A Cohabitation Agreement

Many of you get into a live-in relationship. In such relationships, it makes sense to make a contract which protects your property in case of a split. In this agreement you can specify how much maintenance and child support will be paid. You can also work out a distribution of assets, whether you will have equal shares or in certain proportions. Once all these factors are determined, you can carry on with your relationship knowing that there will be no legal hassles later on.

Cohabitation agreements are very important if you are planning to live together especially if you have some shared financial assets. It may become tough to decide who gets what in the event of a break up. So, it is better to have signed a contract that specifies the distribution of assets.

A cohabitation agreement has to be made in writing to have any importance in court. All clauses have to be specific. If you intend to pay your partner a certain amount as maintenance, you will have to mention where you will get that money from. Any ambiguity in the contract will render it "void for uncertainty". You should make sure you take legal advice before making out the agreement. This way you can avoid being taken for a ride and can keep away from loopholes in the contract.

The wedding law in most places does not recognize a cohabitation relationship unless an agreement has been made to make it official. This is another reason why cohabitation agreements are important. You can give your partner the status of being your family member. On the basis of a cohabitation agreement, you can will your property to your partner in case of your death.

There are some advantages of being in a cohabitation relationship than getting married. You do not need to apply for a marriage license and then wait for a few weeks before getting married. You can just start living together whenever you want. If you get married you may have to do a wedding name change. This is not required if you live together as you can still retain your maiden name.

Cohabitation agreements are a to protect you in a relationship that does not have the stability and surety of a marriage bond.