Cohabitation Agreements Solicitors York, Wetherby & Malton
If you are living with your partner but do not intend to marry or enter into a civil partnership in the near future, a cohabitation agreement can provide you with much-needed protection. Many cohabiting couples believe their rights are protected under ‘common law marriage’, however, no such principle exists. Should your relationship break down, you could be faced with financial uncertainty and a potentially hostile situation as you and your partner try to separate your property and assets with no clear way forward.
To learn how you can secure your rights with a cohabitation agreement, contact us today using our online enquiry form.
What is a cohabitation agreement?
A cohabitation agreement is a legally binding deed that sets out how you and your partner own property, your financial responsibilities to one another whilst you are living together and how jointly-owned assets will be divided if you separate. It can address matters like:
- who owns what proportion of your home or other property;
- who owns other assets, like cars and furniture;
- what share each of you will pay of your mortgage or rent;
- how household bills and other debts will be paid;
- how joint savings, life insurance and pensions will be shared;
- what will happen to any pets should you separate.
Why should we have a cohabitation agreement?
A cohabitation agreement protects you and your partner should your relationship break down, ensuring that you both receive the assets you are entitled to and avoid stress and upset, or having to settle things through costly litigation.
If you own property jointly as cohabitees, the ordinary starting point would be for it to be divided equally between both parties on separation, even if one of you contributed more to the purchase or gave up work to take care of your home and children. A cohabitation agreement can protect your interests in situations such as these by reflecting your circumstances accurately and fairly.
Is a cohabitation agreement legally binding?
Provided your cohabitation agreement is correctly executed, it will be legally binding and allow you to secure your entitlements should issues arise. For your agreement to be valid, the following conditions must be met:
- the agreement must be in the form of a deed;
- it must be signed by both parties;
- you must both enter into the agreement freely and voluntarily, having sought independent legal advice and fully disclosed your finances;
- you must keep your agreement updated to reflect life changes.
Contact our Cohabitation Agreement Lawyers in Yorkshire
Pearson & Ward are here to help cohabiting couples secure their rights and preserve their interests throughout their relationship. Our experienced family lawyers can guide you through the process of creating a cohabitation agreement and ensure it meets your personal needs as well as all legal requirements.
To discover how a cohabitation agreement could protect you, call us now on 01904 716000 (York) or 01937 583210 (Wetherby) or 01653 692247 (Malton), or complete our online enquiry form and we will be in touch straight away.