Saturday, December 8, 2007

Cohabitation: A Checklist for People Living Together published Living Together Wisely which has a good checklist on when people need a cohabitation agreement. Since I cannot improve on it, I pass it along:

"More and more unmarried couples living together are putting together a contract - called a cohabitation contract or 'living together agreement' that answers some of these questions:

  • How will you split living expenses and who will be responsible for paying bills?
  • Who's paying the mortgage or rent? Is it an even split or is one person paying less but planning to do more work around the place?
  • What happens if you break up? Will your home automatically be put up for sale or rent? How will your property be divided?
  • If you end up selling the house, who's going to pay closing costs, repair costs and moving expenses?
  • What happens if one person wants to buy out the other? How can you determine a fair price?
  • Who currently owns what property and what property will be jointly owned in the future?
Read over that list and see if you have the kind of things that can cause problems. If you do, then get yourself to an lawyer.

For other articles (and more information on) cohabitation agreements just click on the links below next to "Labels" that say "cohabitation" and "living together."

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