Cohabitation Agreements are similar to Separation Agreements and can be entered into by any people choosing to live together whether under a commercial arrangement (such as a joint house purchase between brothers) or two people living together but who choose not to marry.
The only difference is essentially as to the timing of the agreement, these being created at the commencement of the arrangement. These can serve as an express declaration as to how property is to be held, the circumstances in which it should be sold and how the proceeds shall be divided on sale. It can also cover other ancillary matters such as the respective contribution to utility bills, mortgage payments, insurances and other household expenditure by the parties as well as the consequences of not abiding by any particular term of the agreement (if any).
Clough and Willis Family Law Solicitors have a dedicated team of family law specialists who are headed by a Resolution accredited specialist. Clough and Willis Solicitors can help clarify any financial commitments in long-term relationships, especially those with children.
Remember Cohabitation Agreements can help to set down some practical guidelines for the relationship between yourself and your partner. Thinking these things through early on should make things much clearer and less painful in the unfortunate event of a break up.
Following a recent House of Lords decision, if properly executed and subject to the criteria required by the Court, these agreements can potentially be the last word on the division of the proceeds of a house sale and when a sale should take place. If the agreement deals with how the proceeds of the sale of a house are to be divided, it should be prepared in conjunction with a conveyancing solicitor (for example at the time the property is purchased).
More information about Cohabitation and Cohabitation FAQ's
If you would like to arrange an appointment to discuss Cohabitation Agreements in more detail, please contact Lee Marston, lee.marston@clough-willis.co.uk or Marie Whittaker, marie.whittaker@clough-willis.co.uk.
