It is becoming increasingly common for couples to reside together and have children without considering entering into marriage or a civil partnership. The law does not protect cohabiting couples with any specific rights over property or any other assets.
What should a cohabitation agreement cover?
- Property – The legal shares each person will have, plus how the mortgage payment and other property costs will be split.
- Savings – Details of how any savings amassed during the marriage will be split.
- Debts – Details of how any outstanding debts will be settled.
- Pensions – Any adjustments that will be made to pension schemes post-divorce.
N.B. This is not an exhaustive list and is not intended to be relied upon in the absence of legal advice. Similarly to nuptial agreements cohabitant agreements are not legally binding by statue, however Judges will be guided by the terms.