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COMMON LAW PARTNER AGREEMENT
THIS COMMON LAW PARTNER AGREEMENT (the "Agreement") dated this ________ day of ________________, ________.BETWEEN:
_____________________of _________________________- AND -_____________________of _________________________
BACKGROUND
NOW THEREFORE in consideration of the upcoming common law partner agreement, and in consideration of the mutual promises and covenants contained in this Agreement, the Parties agree as follows:
IN WITNESS WHEREOF the Parties have hereunto set their hands and seals on the ________ day of ________________, ________.
SIGNED, SEALED AND DELIVEREDIn the presence of:
_____________________________WitnessPrinted Name: _________________
_____________________________________________
CERTIFICATE OF INDEPENDENT LEGAL ADVICE
THE COMMONWEALTH OF VIRGINIACOUNTY OF __________________
I, ____________, of the City of ___________________, in the Commonwealth of Virginia, Attorney, DO HEREBY CERTIFY:
THAT I was this day consulted in my professional capacity by _____________________, named in the within instrument, being a Common Law Partner Agreement, separate and apart from _____________________, as to _____________________'s legal rights and liabilities under the terms and conditions of it, and that I acted solely for _____________________, and explained fully to _____________________ the nature and effect of the said Common Law Partner Agreement and _____________________ did execute it in my presence, and did acknowledge and declare that _____________________ was executing it of _____________________'s own volition and without any fear, threats, compulsion or influence from _____________________, or any other person.
DATED at the City of ___________________, in the Commonwealth of Virginia this ____________ day of _________, 20___.
________________________ATTORNEYPrint Name: _____________
I, _____________________, the person named in the annexed Agreement, hereby acknowledges the foregoing this ____day of ______________20___.
________________________ATTORNEYPrint Name: _________________
Last Updated October 7, 2024
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A Cohabitation Agreement is a legally binding contract that outlines the financial and property rights of an unmarried couple living together in a shared residence. It also details each partner's rights in case of a break-up.
In most states, there’s no legal status for cohabitating couples who are not married. Therefore, they can use a Cohabitation Agreement to outline their rights and obligations during and after the relationship.
Legally, cohabitating couples are considered domestic partners in several US states, including California, Maryland, and others.
A Cohabitation Agreement is also called a:
An increasing number of couples are choosing to pursue alternatives to marriage. As a result, Cohabitation Agreements are essential documents that allow couples to legally safeguard their relationship.
Cohabitation Agreements also clearly define the division of shared assets and debts in the case of a break-up. This protects both parties and helps to avoid future court proceedings.
This agreement can be used to detail and define:
Many couples prefer a Cohabitation Agreement because it’s more flexible than a marriage agreement while still providing a degree of legal protection.
Advantages of a Cohabitation Agreement include:
It's always a good idea to have written documentation regarding shared assets and debts. Despite the trust between partners, drafting a Cohabitation Agreement encourages open and honest communication regarding expectations and responsibilities around property, debt, and belongings. This can be a valuable exercise for partners to undertake together.
A Cohabitation Agreement can help prevent costly and complicated court battles by establishing clear guidelines for dividing assets, debts, and property in case of a break-up. Without it, unmarried couples may face uncertainty and disputes over support and property issues. Creating a legally binding agreement is crucial to minimize these conflicts.
There are significant legal risks if you don’t have a Cohabitation Agreement. Although several states recognize domestic partnerships, there is limited legal protection for unmarried couples who live together.
For example, one partner does not have an automatic claim to any property or assets legally in the other partner’s name, which differs from marriage. So, if your partner owns your house but you help make mortgage payments, you are not entitled to any portion of this property in case of your partner’s death.
Ending a relationship can be an emotional and intense process. With a Cohabitation Agreement, you can rest assured that your assets, debts, and other financial matters will be handled fairly, equally, and efficiently.
A Cohabitation Agreement usually includes:
Yes, Cohabitation Agreements are legally binding. Like most contracts, your Cohabitation Agreement will be legally enforceable if it contains the elements of a valid contract and follows the appropriate legal protocol.
Legislation governing Cohabitation Agreements may vary from state to state. For this reason, it is sometimes a good idea to talk to a lawyer and seek independent legal advice before signing your Cohabitation Agreement. This process helps ensure the Agreement is fair and that both partners fully understand what they are signing.
Additionally, couples may want to consider having their Cohabitation Agreement notarized or witnessed by a lawyer or notary public to increase its credibility and validity.
Sample
Cohabitation Agreement
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