Cohabitation Agreement BC Example: How to Protect Your Rights When Living Together
As more and more couples choose to live together without getting married, it has become increasingly important to protect your rights and assets in case of a separation or breakup. One way to do this is by creating a cohabitation agreement, which outlines the rights and responsibilities of each partner during the relationship and in the event of a split. In this article, we`ll provide an example of a cohabitation agreement for couples living in British Columbia, Canada.
What is a Cohabitation Agreement?
A cohabitation agreement is a legal document that outlines the terms and conditions of a couple`s living arrangements, including how they will manage their finances, property, and other assets while living together. This type of agreement is especially important for couples who are not married because they do not have the same legal protections and obligations as married couples.
By creating a cohabitation agreement, partners can protect their interests and avoid disputes if the relationship ends. This document is legally binding and can be enforced by a court of law.
Example of a Cohabitation Agreement in British Columbia
Here is an example of a cohabitation agreement that can be used by couples in British Columbia:
1. Identification of Parties
This section should identify the parties by their full legal names, as well as their current addresses. It should also state that the parties are currently living together as a couple.
2. Property
This section should outline how the parties will manage their property during the relationship and in case of a separation. It should specify which assets are owned individually and which are owned jointly. It should also address how the partners intend to divide the assets in case of a separation.
3. Financial Responsibilities
This section should specify each partner`s financial responsibilities during the relationship, including how they will contribute to household expenses and bills. It should also outline how they will manage their finances individually and jointly.
4. Support Obligations
This section should address any support obligations that may arise in the event of a separation or breakup, including spousal or child support. It should specify how much support will be paid, how often it will be paid, and how long it will be paid.
5. Dispute Resolution
This section should outline how the parties intend to resolve any disputes that may arise during the relationship or in case of a separation. It should specify whether the parties will seek mediation or arbitration before seeking legal action.
6. Termination
This section should state how the agreement can be terminated, either by mutual agreement or by one of the parties. It should also specify how the termination will affect the partners` property and financial obligations.
Conclusion
Creating a cohabitation agreement is an important step for couples who are living together without being married. This agreement can protect your rights and assets in case of a separation or breakup. If you`re considering drafting a cohabitation agreement, it`s essential to consult with a lawyer who is experienced in family law and contract law. By getting professional legal advice, you can ensure that your agreement meets all legal requirements and provides the protection you need.
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