Cohabitation Agreement Solicitors England & Wales: Cohabitation & Living Together Agreements.

If you and your partner are living together, or are about to move in together, but do not plan to get married or enter into a civil partnership, it makes sense to draw up a cohabitation agreement.

It is the only way to legally agree on the share of any joint assets and liabilities you have.

In England and Wales, there is no legal protection for cohabiting couples. This can leave individuals financially vulnerable in the event of a separation or the death of a partner.

Being clear about each person’s rights and responsibilities in the event of a break-up ensures that both parties are treated fairly. The contributions each party makes to the household become deeply entwined over time, and a cohabitation agreement will help sort everything out should you ever decide to separate.

A cohabitation agreement ensures that there is no uncertainty over who gets what. It can also provide a level of security for couples who share large assets such as houses and businesses.

A cohabitation agreement typically covers your joint assets like property, savings, vehicles and valuable possessions, joint debts like a mortgage, loans and credit cards, and even pet ownership. Important things to include in a cohabitation agreement are:

• Property you owned before moving in together
• Property you purchased after moving in together with information about who contributed what
• Joint savings
• Joint debts
• Child arrangements
• Pet ownership
• Valuable item ownership (a piano, sofa, gym equipment etc)

It is common, particularly for first time buyers, to pool financial resources with a close friend or partner in order to buy a property.

According to the ONS, cohabiters are the fastest growing type of family structure and a steep rise in the number of cohabiting couples submitting joint mortgage applications was seen in 2020 according to the Mortgage Advice Bureau.

There are a variety of ways in which this can be done effectively and it’s up to you how you choose to go about it. The property can be owned solely or jointly, in equal or non-equal shares.

Other questions you should consider are:

• Do you both have an equal deposit to contribute?
• Are you both bringing furniture?
• Will you buy new furniture together?
• Who will pay any monthly mortgage repayments?
• Who will pay for the household bills?

When buying a property together, one of the major decisions unmarried couples have to make is whether to register with the Land Registry as joint tenants or as tenants in common.

As joint tenants, you will both own the property equally – there are no separate, identifiable shares.

As tenants in common, you each own separate identifiable shares in the property. These may be equal or unequal shares depending on what makes sense for you.

If your partner is moving into a property you own, the cohabitation agreement could include a statement from the non-owning partner saying that they understand that they will not be gaining a financial interest in the property despite any payments they make, or any work they do on it.

Your decisions here could have an impact on what happens in the unfortunate event of one partner passing away, so it’s important to seek advice from an experienced Cohabitation Agreement Solicitor specific to your unique circumstances.