Drawing an agreement for personal purpose is one of the best way to protect yourselves and your assets, especially when you live together. In this case, a Cohabitation Agreement is a perfect ans simple contract for your personal agreement. It can be easily written and understood, so you can use the Cohabitation Agreement as a legal document to write some agreement, take for example with your significant other or your roommate. It will prevent any unexpected events between you both and your assets.
You are likely to need to draw a Cohabitation Agreement if you live with your significant other or roommates due to some condition, such as:
– You and your significant other or roommate sharing a lease, particular items, and/ or expenses which you would like to remain and to be considered as just cohabitant by a court.
– You are planning to live together with your significant other or your roommate and you would like to define particular terms of financial arrangement.
Basically a Cohabitation Agreement will cover some contracts between two or more persons who together to protect their personal right and assets. It is commonly cover each individual belonging assets and the contract for any future financial possibilities if both individual cooperate in fulfilling their living cost and/or work together in some business. It usually also includes terms and policy related to each individual debts and/ or both individual debts when they loan money together for both living purposes. The last common point in a Cohabitation Agreement is the heritage contract, such as who will inherit both and/or the individual personal assets and debts.
A Cohabitation Agreement is generally written in basic template of common agreement, in which it is always begin with when the contract is drawn and the signatures of the individuals who write the contract. And then it is follow by the background of each individual, including the detail of each individual assets, debts, and financial condition in the beginning of their living together plans. After that, the agreement will draw some consideration related to the assets, debts, and financial condition and the agreement between the individual such as with assets to be kept as personal assets, and their agreement if for some unexpected event one individual has to responsible to the other living cost. For a Cohabitation Agreement which is drawn with the significant other, you have add some column for the “in the event of divorce” policy. At last the agreement will be closed by the witness signatures.
And if you are looking for a sample you want to use as a reference, you can download and use one ms word sample below. Remember to consult with your lawyer if you plan to create one since this sample won’t cover all of your interests.
Cohabitation Agreement Template (28.5 KiB, 548 hits)