What is a Cohabitation Agreement?
A cohabitation agreement can give you certainty about what will happen during your relationship and if it breaks down. It can protect your assets, as well as help reduce acrimony and minimise the legal costs which may be incurred if you cannot agree what should happen.
A Cohabitation Agreement can record:
- What each person owns at the time the cohabitation agreement is signed;
- Who owns assets built up during the relationship, such as house contents, savings, etc.
- Who is responsible for household expenses, such as mortgage instalments, utility bills, etc.
- What should happen to the family home if you separate.
Couples living together do not have the same legal rights or responsibilities as married couples. Without a cohabitation agreement you may not receive a fair share of the assets built up during the relationship.
You may receive less than you expected if your relationship breaks down in the future if:
- You contribute to mortgage instalments or household bills, but you are not the legal owner of the family home.
- You are intending to buy a property in joint names using the deposit from the sale of a property you bought before you were together.
Frequently asked questions about Cohabitation Agreements in the UK
A cohabitation agreement can be prepared at any time during your relationship, but you should particularly consider it if:
- You are buying a house together, but have contributed different shares to the deposit;
- You are moving into your partner’s house and will be contributing to the monthly mortgage instalments;
- Your partner is coming to live in your house.
Every Cohabitation Agreement will be tailored to meet your individual circumstances, and the cost will depend on your particular needs. Please call us and we will be happy to give you an estimate of our costs. We may be able to prepare an agreement for a fixed fee, starting at £600 plus VAT.
Contacting a solicitor does not need to be daunting. For a free-consultation with a family solicitor in Wakefield, Dewsbury or Horsforth about cohabitation agreements, call 0330 300 1103 or request a call-back.