Cohabitation agreements are common amongst couples who live together but don’t intend to marry or are holding off marriage for the future. A cohabitation agreement defines how a couple who are living together would like to manage their assets in the event that the relationship ends. Having a cohabitation agreement in place will reduce the stresses that would be involved once the relationship terminates and the couples are left to sort out their assets.
In this modern era it is increasingly common for couples to choose to live together before taking on the commitment of marriage. This can have many benefits including saving money on rent and other bills. Having a cohabitation agreement in place can secure your legal rights especially if expectations from your former partner change once the relationship is terminated.
In more complex cases there can be requests of palimony by a former partner. Having a cohabitation agreement drawn up beforehand will significantly help or hinder that request depending on how the initial agreement was designed.