Have you moved in with your partner or are considering it? There are many people who believe that if you simply live with a partner for a fixed period of time, say five years, you become a “Common Law” husband or wife. This is wrong. Many people assume that if they live with someone for a long period of time or have children together that the law will protect them but there is currently no law which specifically protects cohabiting couples. When a cohabiting couple separate, the division of assets will be decided by property law. Courts have no discretion to relocate assets as they do within divorce and civil partnership proceedings.
To avoid disagreement it is a sensible idea to have a Cohabitation or Living Together Agreement prepared. This forms a contract between the couple. It will usually contain details of how any property is owned, whether jointly or separately between the parties, details of who will pay the bills and other outgoings, what will happen if the relationship ends. Also what would happen in the event of significant changes to the relationship such as the birth of children or serious illness of one party?
When a property is purchased in joint names, it is essential to consider how both parties’ interests should be protected. Also in what shares the joint property is owned. If one party puts more capital in, upon purchase, then this could be protected by a deed of trust between the owners. Your solicitor will give you advice on different ways to jointly own property. To have things clear at the outset will avoid disagreement and disappointment if a relationship breaks down.
Cohabiting couples should always consider making wills. If someone dies without a will, then on death their property will pass under the Intestacy Rules meaning that an unmarried partner would not benefit, which could lead to distant relatives benefitting in their place.
If you would like further information or help regarding matrimonial and family matters please contact Moss Solicitors.
