Cohabitation Agreement Sample: Protecting Your Interests When Living Together
Cohabitation, or living together without being married, is becoming more common in today`s society. While it may seem like a financially practical option, it can also lead to legal complications in the event of a breakup or dispute. This is where a cohabitation agreement comes in handy.
A cohabitation agreement is a legal document that outlines the rights and responsibilities of both parties while living together. It can cover everything from property ownership to finances to child custody. Essentially, it is a way to protect your interests in the event of a breakup or dispute.
But what should be included in a cohabitation agreement? Here is a sample to give you an idea:
1. Property Ownership: This section should specify who owns what property before and during the relationship. It should also outline how property will be divided in the event of a breakup.
2. Finances: This section should outline how bills and living expenses will be paid. It should also address issues such as joint bank accounts and credit cards.
3. Retirement and Insurance Benefits: This section should outline how retirement and insurance benefits will be handled. It may also address issues such as inheritance and wills.
4. Dispute Resolution: This section should outline how disputes will be resolved. It may specify mediation or arbitration as a method of resolving disputes.
5. Child Custody and Support: This section should address child custody and support in the event of a breakup. It should specify who will have custody of the child and how support payments will be made.
6. Termination: This section should outline how the agreement can be terminated. It may specify a notice period or other requirements for terminating the agreement.
It is important to remember that a cohabitation agreement is a legal document. This means that it must be drafted carefully and reviewed by a lawyer. You and your partner should discuss your needs and concerns before drafting the agreement and ensure that both parties fully understand the terms.
In conclusion, a cohabitation agreement can provide peace of mind to both parties when living together. It is a way to protect your interests and ensure that you are prepared for any eventualities. Use the sample above as a starting point and consult with a lawyer to create a customized agreement that meets your personal needs and situation.