Cohabitation Agreements in Alberta: Protecting Your Relationship and Property
Cohabitation has become common in Alberta as more couples choose to live together without getting married. However, the legal status of relationships outside of marriage can be complicated, leading to potential disputes over property and finances. That`s where a cohabitation agreement comes in.
What Is a Cohabitation Agreement?
A cohabitation agreement is a legal document that defines the rights and obligations of unmarried partners who live together. It covers a range of issues, including property division, spousal support, and child custody in the event of a separation or breakup.
Why Do You Need a Cohabitation Agreement?
When unmarried couples separate, they are not entitled to the same legal protections as married couples. In Alberta, the law only recognizes common-law relationships if the partners have lived together for at least three years or have a child together.
Without a cohabitation agreement, an unmarried partner may have no legal claim to their partner`s property or assets in the event of a separation. A cohabitation agreement can protect both partners in case of a breakup, preventing costly legal battles and preserving the relationship.
What Should Be Included in a Cohabitation Agreement?
A cohabitation agreement can cover a wide range of issues, depending on the needs and circumstances of the couple. Some common provisions may include:
– Property division: How will property and assets be divided in case of a separation?
– Spousal support: Will one partner be required to pay alimony to the other? If so, how much and for how long?
– Child custody and support: If the couple has children, how will custody and support be arranged?
– Debt division: How will debts be divided in case of a separation?
– Dispute resolution: How will disputes be resolved if the couple cannot agree on issues covered by the agreement?
How to Create a Cohabitation Agreement in Alberta
To create a legally binding cohabitation agreement in Alberta, both partners must:
– Be of legal age (18 or older)
– Be mentally competent
– Enter into the agreement voluntarily and without pressure or coercion
– Disclose all assets and debts honestly and fully
Ideally, each partner should have their own lawyer to review and advise on the agreement. This ensures that both parties understand their rights and obligations under the agreement and that the agreement is fair and enforceable.
Conclusion
If you are in a common-law relationship in Alberta, a cohabitation agreement can provide peace of mind and protect your relationship and assets in case of a separation. By consulting a lawyer and creating a comprehensive agreement, you can ensure that both you and your partner are protected and prepared for any eventuality.