The number of people living together, or cohabiting, has soared during recent lockdowns with many deciding to move in together sooner than planned.
In these circumstances, a cohabitation agreement is a prudent step. It sets out arrangements for property and assets while you live together as well as what should happen if you split up.
A cohabitation agreement is a legally binding contract, provided it is drafted and executed properly and signed as a deed. You should therefore take legal advice before entering into one.
Ideally, before you move in together but you can do it at any time, even after many years of cohabiting.
Yes, the agreement should be reviewed periodically especially when there has been a significant change in circumstances, like the birth of a child.
Definitely – but if possible, you should consider this whilst drafting the agreement.
For more information about cohabitation agreements, please contact Wards Solicitors’ specialist and highly experienced cohabitation team.
Click here to read our Legal Guide, ‘Cohabitation Agreements or No nups’.
Solicitor Associates Lucia Mills and Georgia Wookey can talk you through what to do if you want to make a cohabitation agreement or enter into a declaration of trust – particularly useful if you are buying a property with someone you’re not in a relationship with – and the vital importance of making a Will if you’re cohabiting.
Email Lucia Mills: Lucia.Mills@wards.uk.com
Phone: 0117 9292811
Email Georgia: Georgia.Wookey@wards.uk.com
Phone: 01454 204899