Cohabitation Agreement Law in the UK: What You Need to Know
More and more people are choosing to live together without getting married. While this can be a great way to save money on living expenses and enjoy the benefits of companionship, it can also lead to legal issues down the line.
That`s where cohabitation agreement law comes in. In the UK, cohabitation agreements are legal contracts that unmarried couples can use to protect their rights and assets in case of a breakup or other legal dispute.
What is a Cohabitation Agreement?
A cohabitation agreement, also known as a living together agreement, is a legal document that outlines the rights and responsibilities of each partner in a cohabiting relationship. This can include details such as how assets and debts will be divided if the couple separates, how much each partner will contribute to living expenses, and what will happen to any joint property.
The agreement can be written up by a solicitor or created using an online template. It`s important to note that if you create an agreement without legal advice, there is a risk that it may not be legally binding in court.
Why Do You Need a Cohabitation Agreement?
There are several reasons why you might want to consider a cohabitation agreement if you`re living with your partner:
1. Protect Your Assets: If you own property or have significant savings or investments, a cohabitation agreement can help ensure that these assets are protected in case of a breakup.
2. Clarify Responsibilities: Living together involves sharing expenses and responsibilities. A cohabitation agreement can help clarify who is responsible for what and avoid conflict down the line.
3. Provide for Your Children: If you have children from a previous relationship, a cohabitation agreement can ensure that they are provided for in case of your death or a breakup.
What Does the Law Say?
While there is no specific law in the UK that sets out the rights of cohabiting couples, there are legal principles that can be applied in case of a dispute. For example, if you own property jointly with your partner and you split up, you may be able to make a claim for a share of the property under the Trusts of Land and Appointment of Trustees Act.
However, this can be a complicated and expensive process, and there is no guarantee that you will be successful. That`s why it`s important to have a cohabitation agreement in place that sets out your rights and responsibilities from the outset.
Final Thoughts
Living together can be a great way to share your life with someone you love. However, it`s important to protect your rights and assets in case of a breakup or other legal dispute. That`s why a cohabitation agreement is a wise investment that can provide peace of mind and prevent legal headaches down the line. If you`re living with your partner and don`t have an agreement in place, now is the time to speak to a solicitor and get one set up.
