When two individuals decide to live together, it`s important to establish guidelines and agreements to ensure a smooth and harmonious living situation. This is where a partner living agreement comes in.
A partner living agreement, also called a cohabitation agreement, is a legal document that outlines the rights and responsibilities of each partner in a domestic partnership. It`s a useful tool for couples who live together but don`t intend to get married or enter into a civil partnership.
The main purpose of a partner living agreement is to protect both partners in the event that the relationship ends. It can cover many different aspects of living together, including financial responsibilities, property ownership, and division of assets if the relationship ends. By having a written agreement, both partners will have a clear understanding of their rights and obligations, which can help prevent conflicts and misunderstandings down the line.
When drafting a partner living agreement, it`s important to consult with an attorney who has experience in family law. The document should be tailored to the unique circumstances of the couple and should cover all possible scenarios. Some of the key provisions that should be included are:
1. Finances: The agreement should specify how bills are going to be paid and who will be responsible for each expense. It should also outline how joint and individual bank accounts will be managed.
2. Property ownership: If either partner owns property before entering into the partnership, the agreement should clarify who will retain ownership of that property. It should also specify how any jointly-owned property will be divided if the relationship ends.
3. Support: In the event of a breakup, the agreement should establish how much support, if any, one partner will give to the other.
4. Termination: The agreement should specify the conditions under which it can be terminated, such as a breach of contract by one partner.
In conclusion, a partner living agreement is an essential document for couples who are living together but aren`t married. It protects both partners by clearly outlining their rights and responsibilities and can prevent conflicts and misunderstandings. If you`re considering living with a partner, it`s important to consult with an attorney to create a solid agreement that takes into account your unique circumstances.