Cohabitation Agreement Toronto, Ontario
with Cohabitation Agreements.
What is Cohabitation Agreement
A cohabitation agreement is an agreement between a couple who chooses to live together but not get married about what happens to their property and sometimes support, if they breakup.
Couples who cohabitate may be considered to be in a “common law” relationship and are subject to many of the same family laws, rights and obligations as a married couple when it comes to property and support.
Most people don’t realize that common law couples may not be able to walk away from a relationship with all their assets intact. What’s yours is yours and what’s mine is mine might not actually be the case. Common law claims can be very complicated to respond to and can result in a very expensive and stressful breakup. Don’t let that be you! Get a Cohabitation Agreement instead and save yourself the headache of a messy, costly breakup.
A reasonable Cohabitation Agreement provides clarity to the couple so they know exactly what happens to their property and assets in the event of breakup. They are saved from the anxiety and stress of the unknown, in the even to breakup.
As such, many couples work out an agreement before or during the time they are cohabitating to outline what happens upon break up.