Between 2008 and 2018, cohabiting couple families continued to grow faster than married or lone parent families overall in the UK, with 25%* more cohabiting compared to the previous decade. If you are currently cohabiting you are not protected by matrimonial laws and you both need to carefully consider protecting any assets you bring into the relationship.
Partner Moving into Your Home
If your partner is moving into your home and pays directly towards your mortgage or invests money into your property, such as funding refurbishments which increase the value of the property, this could give rise to a beneficial interest. You need to be very clear from the outset what interest it is that you intend your partner to acquire.
Buying Your First Home Together
If you are buying your first home together and your contributions to the purchase price of the property are unequal, you should seek advice regarding a deed of trust to record your respective interests.
When commencing a cohabiting relationship, it is highly recommended that you enter into a ‘cohabitation agreement’ that sets out the intended contributions to assets and outgoings, so that you both have certainty and can avoid complications in the future.
If you are considering living with your partner or you are in the process of separating from your partner and there is a dispute regarding property, it is advisable to seek the advice of a solicitor. Please contact Shelley Chesworth on 0161 475 7622 or email [email protected] for further information.