One of the most persistent urban myths is that of the ‘common-law marriage’. Living together does not give you the same rights as if you were married or in a civil partnership. If you are buying a home together or moving in to a shared home that is only in one name you should think about the financial arrangements carefully.
Whereas on separation each partner in a marriage or civil partnership has a legal right to maintenance and a share of assets, including property, there are no such rights for cohabiting couples. This is the case regardless of how many years they have been together or whether they have children.
Having a property ownership agreement can avoid legal wrangling if you break up. It is particularly important if you are making unequal contributions towards the purchase price of a property.
If you do not have a property ownership agreement in place it could be very difficult to establish unequal shares in the property even where one person has contributed much more that the other.
A property ownership agreement is legally binding – like a contract. It is vital to record your interest if you are making a significant contribution to your partner’s house when it is registered in just their name alone.
Our solicitors are very experienced in this area and can help you and your partner draw up an agreement if you are about to move in together or are already living together.
In most cases, we can draw up an agreement for a fixed fee. It is an affordable way to get peace of mind for the future.
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