Protecting unmarried couples

If you and your partner own a property together, you should have a Declaration of Trust. But you might also want to consider having a Cohabitation Agreement (also known as a Living Together Agreement).

This kind of agreement can be a great tool to help set out who owns what and in what proportions. It can cover items you own separately as well as things you own jointly. LTAs can be designed to allow for the inclusion of assets you may acquire during your relationship. They also allow you to specify who gets what if the relationship breaks down. It can also deal with how children will be supported and housed etc, and allow you to record how day-to-day finances will be split, right down to the finer details of mortgage and utilities.

LTAs, BOMAD and guarantor mortgages

Drafting a Living Together Agreement (LTA) is the perfect opportunity for you and your partner to discuss and record any third-party contribution made towards your property ownership – for example, a family loan, a gifted deposit, a guarantor mortgage or a Help to Buy scheme – and how it will be dealt with on relationship breakdown.

Despite what people may believe, as a cohabiting couple you do not have the same rights as you get through being married. Therefore the agreement can be used to protect funds but also to make sure that the correct provision is available for each of you and any children too.

Contact Wellers BOMAD solicitors today

If you are part of a cohabiting couple and are thinking about a property purchase, or if you are a parent offering to assist a cohabiting child financially, contact Wellers’ property and family law solicitors today for advice in relation to a family loan, offset mortgage, Bank of Mum and Dad purchase or other legal aspect of home ownership.

Simply fill out an enquiry form and we will get back to you with legal advice specific to your circumstances.

We have offices in and around London and across the South but can help you wherever you are based.

London City office: 020 7481 2422
Bromley office: 020 8464 4242
Surrey office: 01483 284567
Sevenoaks office: 01732 457575
Chislehurst office: 020 8295 1989