Today, it is very popular for unmarried couples to live together. Some of these couples eventually opt to marry, while others break up and go their separate ways or choose to live together without marrying for years or even decades. These couples do not get to take advantage of the benefits that married couples receive, such as the automatic joint ownership of the property that is obtained during a marriage. However, many of these couples do own property together and when an unmarried couple with property decides to end their relationship, issues regarding the property’s ownership and each partner’s right to the property can arise.
To address these issues before they arise, many couples opt to sign cohabitation agreements. Like a prenuptial agreement, couples can use a cohabitation agreement to determine which party will retain specific assets if the couple ends their relationship. They can also be used to specify the financial obligations that each partner has to the household and to the other party.
There are many financial issues that cohabitating couples should consider regarding their property. Some of these issues include:
For more information about your financial rights with a cohabitation agreement or if you are married, call The Law Office of Eric B. Hannum Esq., LLC. at (732) 365-3299 to discuss your legal needs with one of the experienced divorce attorneys at our firm. We can answer your questions and represent you if your case, whether it is a dispute over a cohabitation agreement or a divorce, goes to court.