Latest insights from our experts

Posted 16 January 2017
by Tracy Lambert

Living Together in 2017



Thinking of buying a property with your partner?

Have you considered the need for a cohabitation agreement?

Relationships are not always enduring and when they break down ownership of property and management of finances can become a thorny issue.

In order to avoid future conflict we recommend that all cohabiting couples consider whether they should enter into a Cohabitation Agreement.

This confers upon each party a degree of protection and certainty as to what their position would be in the event of any future breakdown.

Cohabitation Agreements are enforceable legal contracts provided that they comply with the appropriate legal requirements. They can deal with land, property and money issues. You should not enter into such an agreement unless you fully understand the content and intend to be bound by the terms.

We can draft a Cohabitation Agreement tailored to meet your individual circumstances, the cost will depend upon the complexity of the parties financial assets. We can give you a free estimate over the phone as to the likely cost and details of what information we will require from you in order to draft the agreement.

Please note that we can only act for one party and your partner will need to take independent legal advice upon the content of the agreement.

In addition to the Cohabitation Agreement it is essential that there should be a separate declaration of trust in relation to the property and a copy kept with the deeds to the property.

 

For further information contact; The Family Team at Tozers LLP on 01392 207020 or email: enquiries@tozers.co.uk

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About the author

Tracy Lambert

Partner

Partner based in Exeter's family team