A Cohabitation Property Agreement is essential for unmarried couples living together in England and Wales who wish to protect their property rights and financial interests. Unlike married couples, cohabitants have limited legal protection, making this agreement crucial for establishing clear terms regarding property ownership, financial contributions, and asset division. The agreement typically covers current and future property ownership, financial responsibilities, and arrangements in case of relationship breakdown. It provides legal certainty and helps avoid costly disputes by documenting the parties' intentions clearly and comprehensively.
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1. Parties: Details of the cohabiting parties entering into the agreement
2. Background: Context of the relationship and property ownership situation
3. Definitions: Key terms used throughout the agreement
4. Property Ownership: Details of property ownership shares and rights
5. Financial Contributions: Agreement on mortgage, bills, and maintenance payments
6. Property Sale or Transfer: Provisions for selling or transferring property interests
7. Termination: Circumstances and process for ending the agreement
1. Children Arrangements: Provisions for arrangements regarding children if parties have or plan to have children together
2. Pets: Arrangements for pet ownership and care when parties share pets
3. Business Interests: Protection of business assets and income when either party owns a business
4. Future Property Acquisition: Agreement on future property purchases when parties plan to acquire additional properties
1. Schedule 1: Property Details: Full details of the property including title information
2. Schedule 2: Financial Schedule: Detailed breakdown of financial contributions and ownership shares
3. Schedule 3: Asset Inventory: List of shared and individual assets
4. Appendix A: Property Valuation: Current property valuation report
5. Appendix B: Legal Advice Certificates: Confirmation that both parties received independent legal advice
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