Cohabitation agreements are an important legal document for couples who are living together in British Columbia. Such agreements are essential for protecting the interests of both parties and providing clarity on various issues that may arise in the future. In this article, we will discuss the basics of cohabitation agreements in BC and why they are necessary.

What is a Cohabitation Agreement?

A cohabitation agreement is a document that sets out the rights and responsibilities of individuals who are living together in a relationship that is not legally recognized as a marriage or a common-law relationship. It is a contract between two people, outlining the terms and conditions of their cohabitation.

Why You Need a Cohabitation Agreement

Couples who are living together without being in a legally recognized union can face a number of challenges in the future. For example, if the cohabiting couple decides to separate, they may encounter legal issues related to property, assets, and spousal support. A cohabitation agreement can help in avoiding such legal battles by setting out the terms of the cohabitation and clearly outlining the rights and responsibilities of each party.

What is Covered in a Cohabitation Agreement?

A cohabitation agreement can cover a wide range of issues, including but not limited to:

1. Property and Assets: The agreement can specify how property and assets acquired during the cohabitation will be divided if the couple separates.

2. Support Obligations: The agreement can set out spousal and child support obligations in the event of a separation, as long as it is fair and reasonable.

3. Debts: The agreement can cover how debts incurred during the cohabitation will be divided if the couple separates.

4. Life Insurance: The agreement can specify if one party is required to take out a life insurance policy and name the other partner as the beneficiary.

Who Can Create a Cohabitation Agreement?

Cohabitation agreements can be created by any two people who are living together in a relationship that is not legally recognized. In BC, the agreement must be in writing, signed by both parties, and witnessed by a third party. It`s important to note that each party must have their own legal representation and understand the terms of the agreement before signing.

Final Thoughts

A cohabitation agreement is an important legal document for couples who are living together in BC. It helps in avoiding any legal battles in the future by setting out the terms of the cohabitation and clearly outlining the rights and responsibilities of each party. It is essential to consult with a lawyer to ensure that your agreement is tailored to meet your specific needs and situation.