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Although cohabitation is not specifically prohibited in Utah, the law does little to encourage this practice. There are several issues potential and current cohabitants should consider before shacking up.
What to include in a cohabitation agreement: Individual assets which belong to each party ? savings, investments etc. Shared assets and debts ? joint property and/or mortgages & loans. The intention of how assets and debts should be divided if the cohabiting relationship ends.
With cohabitation having grown significantly in popularity over the past 40 years Eleanor Macklin (1975) identified four types of cohabitation: temporary casual for convenience. affectionate dating. trial marriage. temporary alternative to marriage. permanent alternative to marriage.
A cohabitation agreement is a legal document between unmarried couples who are living together. It sets out arrangements for finances, property and children while you're living together and if you split up, become ill or die. You can make an agreement at any time. It's good to do it before you move in together.
Technically your contract can be enforceable if it is made in writing, signed by both parties and witnessed. However, in order to ensure that your agreement is not challenged by your partner in the future, it is highly advisable that you both receive independent legal advice.
A Cohabitation Agreement usually includes: Full names of you and your partner. Shared address. Move-in date. Information about both shared and separate assets and debts. Delegation of household expenses. Details of any joint accounts used to pay shared living expenses.
Yes, you can. Examples of situations where writing your own may make sense are if you are both young, both have no significant assets and no significant debt, and do not have any children.
Of course, each partner should get independent legal advice to ensure the agreement is fair. However, you can save time and money by drafting this document yourself and bringing it to your lawyer for a quick review.