Thoughts of living together are romantic and exciting.  Joining forces with a good friend or potential mate may seem like a natural “next step” before taking the leap into legalizing the relationship with marriage.  However, there are many pitfalls to this living arrangement that both parties should be aware of, and consulting an attorney beforehand would be a wise and prudent move, especially if there are ex-mates, children or property involved.

Laws governing cohabitation are non-existent.  The laws that do apply come from statutes dealing with property rights, debt collection, commercial practices, banking and inheritance law, to name a few.  When parties decide to share expenses, buy personal property together, invest in a business or purchase real estate, they are (knowingly or not) entering an area that has the potential to give rise to a whole host of complex legal problems.

All the potential problems concerning money and other financial matters, division of personal property, responsibility for unpaid debts, etc., can be avoided with a cohabitation agreement.  By sitting down with an attorney, you’ll learn of these potential problems and how to resolve them to avoid the potential for costly and extensive litigation at a future date.