Cohabitation agreements and how they benefit unmarried couples
Relationships can be fun and exciting, but there are many things a person can do in a relationship that their partner will feel is not very romantic. Asking them to sign a cohabitation agreement is one of them. When any person is in a relationship and the person they are with presents them with a contract, their first reaction may be to question this person’s motives. However, people may actually want to look over the cohabitation agreement before making the decision to not sign it because it could benefit them.
One type of cohabitation agreement that people will enter into is a living together contract. This contract is similar to marriage in the way that each person has obligations that they owe to one another along with rights. Depending on what each party is expecting, the contract will lay out these obligations, but also how the couple’s expenses will be handled, how disputes will be resolved and more.
They are also similar to prenuptial agreements because issues such as property division and matters regarding money and debts will be handled once the relationship comes to an end. Many people who choose to get a living together contract do not want to get married, but have been in a long-term relationship. Oftentimes, older couples or those who have significant property, money and assets will consider getting this contract.
Anyone who is interested in entering into a cohabitation agreement with their significant other should contact an attorney. You will want to be sure your rights are protected and that if the relationship ends you will not lose everything you have to your partner. An attorney can help you get the process started and ensure that you are not left with nothing after the relationship is over.