Many couples begin the new year with the prospect of buying their first home with their significant other. While it can be exciting it is also very important to approach the situation with careful consideration, especially if you are purchasing a property as an unmarried couple.
Below our family lawyers have provided some of the things you should consider before moving in with a partner.
When it comes to purchasing a property as an unmarried couple, it is important to bear in mind that unmarried couples do not have the same rights as those who are married so when unmarried couples separate, things can become tricky in respect of finances, interests in properties and assets.
What should I consider before moving in with my partner?
A Cohabitation Agreement is a legal document of particular importance to unmarried couples who are living together which stipulates the arrangements in relation to finances, property and assets while you are living together and what will happen in the event of separation.
It is ideal to get an agreement in place before you and your partner move in together however a Cohabitation Agreement can be made at any time. You may also want to consider entering into one if you have plans to have children, to purchase property in the future, or if you have received an inheritance. If you do not have a Cohabitation Agreement in place and you separate, frequently cohabiting couples come to realise that they have little to no legal protection and can be legally disadvantaged.
What about ‘common law marriage’?
Unfortunately, many cohabiting couples only realise upon separation that they are not afforded the same rights or entitlement in respect of finances as those who are married. This is usually as a result of unmarried couples mistakenly believing they are protected under the notion of a common law marriage.
There is no such thing as a common law marriage. Those who are unmarried are not entitled the same benefits as those who are legally recognised as a couple even if you have lived together for a long time and have children. This is where a Cohabitation Agreement can be invaluable as it will essentially protect you both upon the event of separation, if one of you become seriously ill, or dies.
If you want to find out in more detail as to why unmarried couples have little protection, click here.
Despite this, if you do not have an agreement in place you may be entitled to make a claim against your partner under The Trusts of Lands and Appointment of Trustees Act. This is a very complex area of law so it is essential to seek legal advice.
How can Birkett & Co Solicitors help?
Before moving in with your partner it is important to consider the above. Our family lawyers can assist you and represent your best interests as soon as we start working with you.
If you would like further advice in relation to this blog, or if you have any other family issue that you need guidance with you can click here to book your free 30-minute initial consultation with a family lawyer.