Monday, August 29, 2011

Cohabitation Agreement

When a couple is living happily together not many legal issues will arise in the relationship. The problem, if one of them dies or they decide to break up. If you have acquired property together the issue will be who will retain ownership. Also who will be responsible for which debts.

The best way to solve this problem is to enter into a cohabitation agreement. This way you will be able to determine which property is owned jointly and which property is owned separately by each spouse. It will also determine who will be responsible for what debts.

In this type of agreement be sure to list the property that will be owned jointly and the property that is owned separately on a separate sheet of paper. Another advantage of this agreement you will be able to state what promises were made in the event of separation. Normally you can make this agreement between each other make sure your it is in writing.

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