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A Cohabitation Agreement is a document that an unmarried couple living together can have drawn up to help clarify financial commitments should there be difficulties in the relationship or the relationship breaks down.
A Cohabitation Agreement may not be something many people want to consider at the outset of their relationship and when thinking about living together as an unmarried couple but for others it can be seen as a way of providing clarity as to what you both want and remove anxiety.
Cohabiting couples do not acquire the same legal rights of a married couple during their relationship. The phrase common law husband or wife means nothing in legal terms. If you want to make specific provision for the property, children, ownership of individual assets or property etc then a Cohabitation Agreement could be a document you look to have drawn up. When drawing up the contract it is important to include in it a statement of the purpose of the contract, how long the contract lasts for and how often it will be reviewed to make sure it is up to date and correct for both parties wishes.