Living Together Contract Sample: What Should be Included?
When two people decide to live together, they may consider creating a living together contract – a legal document that outlines their rights and responsibilities as cohabitants. This agreement can establish rules for finances, property, and even child custody in case of separation or death. But what should a living together contract sample include? In this article, we`ll explore some essential clauses that can protect you and your partner in the future.
1. Cohabitation and Duration of the Agreement
The first clause of a living together agreement should state that the parties are living together as cohabitants, not as spouses. This is important because it clarifies that the document is not a marriage contract and does not create any rights or obligations related to marriage. Additionally, the agreement should specify the duration of the contract – whether it is a fixed term (e.g., six months) or continues indefinitely until one party terminates it with notice.
2. Financial Contributions and Obligations
One of the main purposes of a living together agreement is to establish financial arrangements between the parties. This can include how they will pay for rent, utilities, groceries, and other household expenses. The contract should detail each person`s financial contributions, including the proportion of the total amount they will pay. Additionally, the agreement should outline who is responsible for what expenses and how the parties will handle unforeseen expenses.
3. Property Ownership and Division
A living together agreement should also address the issue of property ownership and division. This includes assets purchased during the cohabitation period, such as a car or furniture, as well as the division of property in case of separation or death. The parties can agree to individual ownership of certain assets or joint ownership of others. The contract can also specify how the assets will be divided if the parties split up, taking into account any pre-existing agreements or legal obligations.
4. Child Custody and Support
If the parties have children together or one of them has children from a previous relationship, the living together agreement should address issues of child custody and support. This can include determining who will have legal and physical custody of the child, how the parties will share parenting responsibilities, and how child support will be calculated and paid. The agreement can also outline the procedures for resolving disputes related to child custody or support.
5. Termination and Amendment
Finally, the living together agreement should have provisions for termination and amendment. This means that either party can terminate the contract with notice, and that the terms of the agreement can be modified by mutual consent. The contract should also specify the conditions under which the agreement can be terminated without notice (e.g., if one party breaches a significant provision, such as being unfaithful).
In conclusion, a living together contract sample should include clauses that address the cohabitants` financial contributions and obligations, property ownership and division, child custody and support, and termination and amendment procedures. This agreement can help clarify the rights and responsibilities of each party and protect them in case of separation or death. So, if you`re considering living together with your partner, it may be worth creating a living together agreement that suits your specific needs and circumstances.