The Importance of Cohabitation Agreements in Canada

Cohabitation agreement is a legal agreement reached between a heterosexual or same sex couple, who have chosen to live together. It is like the light version of marriage. In some legal issues (mortgage or child support for example) the couple that signed such document can be viewed as married, but in case of property rights, pensions and inheritance, the couple is usually treated differently. It is a good solution for people who want to protect themselves from unnecessary cost and litigation in case their relationship breaks down. Also such agreement can help to regulate such important issues as property rights and child support. It is best to enter such agreement before the couple is seriously tied together economically. When writing such agreement it is as usual useful to consult an experienced family lawyer, who can help to write a legally correct document that will be accepted by the court. There are a number of things that should be considered. The parties entering an agreement must show that they intend to create a legally enforceable agreement. Both parties must enter the agreement voluntarily and without any pressure from the other side or the other side's family lawyer. Both parties should disclose all the details of their assets and liabilities. Each party must have their own lawyer. The agreement should be reasonable at the time it is entered into and should plan for future events. The agreement might be set aside if it holds possible law violations, for example if both of the sides refuse to pay the child support for their future children. The agreement must be in writing, signed by both parties and witnessed.

 

We already wrote about the growing number of divorces and sadly the numbers are rising. If we set aside the emotional consequences of a divorce we will still have the financial consequences, which can be much more serious. So an agreement regulating such terms for non-married people is also very important. Also it is a good solution for people who already had a divorce and are seeking more protected and less serious family union. If you feel that there is an imbalance in your relationship, this agreement also can be useful. For example if you are wealthier than your partner, have recently received an inheritance, or you are the owner of a business or home, cohabitation agreement will protect your financial assets. Also if your partner has children from previous marriages it will be useful to regulate all the child support related issues in this type of agreement. Many people view such agreements in a negative way, because it shows that both sides are seriously considering a break up. But it is wrong, love is blind and the consequences of a break up can be very serious. Cohabitation Agreement is simply a very useful document and most probably after you’ve signed it you will feel more secure and live happily ever after. Just be sure to have an experienced family lawyer nearby, when you are writing a cohabitation agreement.

 

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