What is a Cohabitation Agreement and Should You Sign One?

The average cost of a wedding in the UK now stands at just over £16,000, which is no small sum for the majority of people. More and more couples are choosing to save for a house deposit or to start a family in lieu of getting married, but what does this mean for your rights if you were to split up?

It’s not an easy topic to think about, but unfortunately some relationships don’t work out and it’s important to ensure that your assets are protected. A cohabitation agreement is one way to protect your money or property and ensure you don’t end up in a difficult position if you and your partner were to split. If you’ve been living with a partner for a while or are thinking about taking that next step, see our handy guide to what a cohabitation agreement is and how they can help. 

A cohabitation agreement shares some similarities with a prenuptial agreement, but it’s suitable for couples who aren’t married or in a civil partnership. It’s a legally binding contract for couples who live together, covering issues such as how to split household bills and what will happen to any property or assets if you were to separate. 

Some cohabiting couples that have lived together for years believe that they’re protected under so called ‘common law marriage’. However, this doesn’t exist in England or Wales and you could find yourself with nothing if a property or bank account is in your partner’s name. A cohabitation agreement is a way to protect your share in a property or set out how you’d split certain costs if you break up.

We understand that it might sound unromantic, but there are many benefits for couples who choose to sign a cohabitation agreement. It can save you a great deal of time, expense and stress if you do separate and it ensures that everyone is clear about who owns what. It also protects a person’s estate if they were to pass away and shows exactly what belonged to each person to reduce any potential disputes. 

If you and your partner choose to get married then the terms of the cohabitation agreement will become void and you will be subject to matrimonial laws. However, you can carry many of the terms over into a pre or post nuptial agreement if you like. 

If you’d like help drawing up a cohabitation agreement, get in touch with the experts at Mark Redler Solicitors. We can work with you and your partner to draft a contract that everyone is happy with and ensure that there’s complete transparency before you sign anything. We can also assist with many other aspects of family law, including divorce, separation or child custody agreements. For more information or to arrange an appointment, give us a call today on 01785 256 455, or visit our website.