Moving in with a partner is fun! It is a sign of bonding even thou you are not married. However, the certain disputes can happen in the future in which your partner might argue with you about certain things such as assets, property, and even debts. Unmarried couples also should create an agreement when they decide to move together. Therefore, a cohabitation agreement template is needed to help you draft the agreement with your partner.
Why Should You Make The Cohabitation Agreement?
A couple must be loving each other because they decide to move together thinking they can fill each other’s life. But of course, there is some limitations that you should protect even though you love your partner because you will never know what is going to happen in the future. If love has no boundaries, but not your possessions, especially if you know your partner might fall on certain troubles.
It’s Not Romantic! But…
Well, when it comes to love, people tend to be irrational and often fall into a toxic relationship that drains their energy and even they lose their possession. Let’s just be realistic. Everyone cannot save themselves from the heartbreak, but they at least can save their financial in the future. Having an agreement means you will discuss the certain things without pressures. when your relationship is over, you will not suffer a lot. At least, you still have things you can live with.
It Helps You Be Open About Certain Things
Before you decide to see a lawyer, you can discuss the agreement together. You can discuss the assets you want to divide and not. So when you split up, you will not end up with an unnecessary disputes. After that, one of the partners can pay the lawyer to get a proper agreement. Once they are satisfied with the agreement, they can sign it.
The Agreement Is Legally Binding
Even though you are not a married couple, signing this agreement can protect you from unexpected things. For example, maybe you never realized your partner is using you and he/she used your assets without your concern. Then, you can refer to the agreement and probably you can sue your partner for trying to make a crime. Of course, as people love their partner, they will not do such things, but again, things can change.
What Will It Cost?
However, a cohabitation agreement costs differently when because it depends on the complexity of the agreement. This is not so pricey and let’s say it is around USD 3,286 for a comprehensive agreement. However, this is worth it for the long term. You and your partner will have more responsibilities and respect for each other during your relationship.
This is nothing compared to the costs you should spend when you are using your partner to the court when you break up. This costs more than that.
In short, creating the cohabitation agreement sounds trivial but it is helpful. There are many people out there suffering a lot financially after breaking up with their partner. This is because they let their partner ruin their lives and they don’t set limitations. You can get the cohabitation agreement template free here and you can edit and also customize the feature easily.