What is a cohabitation agreement?
Whether you are part of a cohabiting couple or buying a property with friends or family, our experienced family lawyers are here to help you set up the cohabitation agreement you need.
Cohabitation agreements for home ownership
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Are we cohabiting by buying a home together?
People who are cohabiting are generally couples, who intend to build a financial future together. However, increasingly, all sorts of living arrangements are being made, with people choosing to buy property with friends, colleagues, siblings and even with grandparents.
So while you might think that 'cohabiting' simply means living with your partner without getting married, it actually just means living together under the same roof with other people.
That can be complicated enough when you're simply renting a shared house with friends, but situations can become more complex if you have decided to pool your financial resources and buy a property together.
Do I need a cohabitation agreement?
Regardless of with whom you buy a property, even the most romantic relationships end, the best of friends fall out or need to move on, and grandparents inevitably pass away.
This cohabitation agreement will not only set out the basis on which the property is owned, as well as the proportions of everyone's share, but it can also deal with practical arrangements such as the payment of bills, what event would trigger a sale and how the sale should be dealt with.
Yet whatever your ownership arrangements - and whether you are romantically linked or related by blood – the best way to ensure that your rights and property are protected is to have a cohabitation agreement in place whenever you buy property with someone else.
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