Why do I Need a Cohabitation Agreement?

By February 6, 2019
cohabitation

Why do I Need a Cohabitation Agreement?

Did you know an unmarried cohabitating couple have no legal rights if they separate? This could mean one party is left with nothing if their relationship was to end.

Cohabitating couples are massively on the rise! Many couples are choosing to live together and not get married which seems completely normal in this day and age, however, there is a massive problem that arises from them not getting married.

If a married couple divorce they are ordered to divide their finances and assets in a ‘fair’ way.

If a couple chooses to live together but not get married then they actually have no legal rights to any finances or assets that are not in their name. It doesn’t matter if you have been living together for many years, you are still not legally entitled to anything your partner has.

Common law marriage

Common law marriage is a well-known term for an informal marriage or long-term cohabitating couple.

Many people who believe they are in a common law marriage believe they also have common law marriage rights. Surprisingly this is completely untrue.

It doesn’t matter how many years you have lived with your partner or if you have children together. If you separate you will not be entitled to anything that is not in your name.

Example:

A couple has been living in their family home for 20 years, they have 4 children and both parties have been making an equal contribution to pay for their house. However, the house is only owned by the husband.

If this couple were married then by law their house would be split fairly between them if they were to divorce.

If this couple we not married then there is very little legal standing for the wife who does not own the home and its likely she would lose everything if they were to separate.

What is a cohabitation agreement?

A Cohabitation Agreement is a legally binding contract between a cohabitating couple.

The Agreement outlines what would happen to their current affairs if the relationship were to end. This ensures that both parties do not need to stress about their finances, assets and other possessions once their relationship is over.

You can include property, debt, ownership of assets and financial agreements within a cohabitation agreement. You are also able to include information regarding how you will pay for your children’s education, clothing and essential needs.

How can we help?

Quicke Divorce offers a fixed fee Cohabitation Agreement for just £299 with no hourly or hidden charges.
We offer a fast and efficient service, usually completed within 7 working days of purchase. Our highly qualified family law solicitors will answer any queries and updates ASAP.

Contact one of our friendly and professional advisors today on 01793 384 032 or alternatively, use our live chat feature below.

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