If you and your partner live together without the intention of marriage, a cohabitation agreement may be useful. These legally binding arrangements give unmarried couples some of the same legal rights as married couples. So, what is a cohabitation agreement?
In Canada, cohabitation becomes a legal status after one year of living together, but without an agreement, these couples may face disputes over property, finances, and more during the relationship or in the event of a breakup. It is always best to work with a qualified attorney to establish these agreements with fair and reasonable terms for each partner’s responsibilities and rights.
What Is a Cohabitation Contract in Canada?
Cohabitation agreements are a form of common law partner agreements that offer protections to unmarried couples who live together. These agreements are contractually binding and set mutually beneficial expectations in finance and property ownership.
As more couples choose to live together without marrying, these agreements are more important than ever. Cohabitation contracts can protect both parties when sharing assets or intermingling financial obligations. For instance, if the couple decides to buy a home together, these agreements can outline the expectations for financial responsibility in the purchase and what happens to the house in case of a breakup or other major life change.
These agreements can also establish things like:
- Who will stay in the shared home in the event of a breakup?
- After breaking up, who will receive financial support (comparable to spousal support)?
- How will shared assets be divided?
- For partners supporting family members or children, how does this impact the couple’s overall finances?
Discussing these topics openly and settling on a fair agreement with the help of a lawyer can prevent resentment and expensive disputes. It is an effective choice for non-married couples to protect themselves when moving in with their partner (or when beginning to share other assets).
Why Should an Attorney Help With Cohabitation Agreements?
If you’re searching online for “What is a cohabitation agreement?” it may be time to seek legal support.
Working with an experienced attorney is essential to secure your rights when living with a partner. Without legal assistance, it will be difficult to draft a legally binding document that considers both parties’ interests.
These important arrangements protect financial security for those with no intentions of marrying, delivering some of the same rights as a prenup without a marital follow-up.
Turn to Pier Law & Mediation
Pier Law & Mediation offers families and couples robust legal support and mediation services. Those considering a cohabitation agreement should speak to one of our attorneys to learn more about the process and begin constructing a secure and reasonable contract.
To begin securing your future, contact us online or call 604-560-8285 today.
Cohabitation Agreements FAQs
Our legal team answers some of the most common questions we hear from cohabiting couples.
What Is a Prenup vs. a Cohabitation Agreement?
A prenup (or prenuptial agreement) is a contract that establishes rights in a marriage before the wedding, while a cohabitation agreement establishes similar rights for couples who live together with no intention of marrying.
Do I Need a Lawyer for a Cohabitation Contract?
It is in your best interest to hire an attorney to help you draft your cohabitation agreement, as otherwise it may not offer as much security or mutual benefit and might not be legally binding in Canada.
What Happens to a Cohabitation Contract If We Decide To Get Married?
Cohabitation contracts can be absolved and replaced with prenups in the event that a couple changes their mind and wants to get married in the future. After learning: “What is a cohabitation agreement?”, couples can decide if it’s the right legal protection for them.
