Cohabitation Agreements in Scotland
The prospect of moving in together or purchasing a property with a partner is something truly exciting, it is a busy time full of moving parts and can be something which neither person has experienced before. There can be a lot of uncertainty surrounding this subject especially for first-time buyers under Scottish Law, lots of questions can arise when the purchase of a property is being made and there is an imbalance as to how each partner has contributed monetarily. For example the deposit at time of purchase, or responsibility for household bills.
What is a Cohabitaton Agreement?
Under the Family Law (Scotland) Act 2006, the general rule is for a jointly owned property, the title deeds to said property are held in equal standing between partners (the 50/50 split). While this might not seem problematic when a relationship is strong, unforeseen events, such as a relationship break-up, separation, or even the death of one partner, can create disputes over legal rights and ownership. A Cohabitation Agreement is a legally binding document which sets out the rights and responsibilities which are placed upon each cohabitant in relation to a property. It can contain provisions regarding debt responsibility and financial obligations. The agreement once drafted is recommended to be advised on independently by the individual parties.
The Main Benefits of a Cohabitation Agreement:
- Clarification on Ownership Division – Protects jointly and solely owned assets and avoids disputes if the relationship ends.
- Protection of jointly and solely owned assets – Safeguards contributions such as deposits, mortgage payments, or investments.
- Amendable to cover individual needs – The agreement can be amended to cover specific circumstances, including caring for a child or economic disadvantage suffered by one party.
- Stability and Security – Provides peace of mind in cases of separation, the death of a partner, or when one party wishes to make a financial claim.
Who Can a Cohabitation Agreement Help?
A Cohabitation agreement is not just applicable to couples who are not yet at the marital status, they can be useful for flat or house shares also. Cohabitation agreements can assist in the protection of any level of wealth, there is no exclusivity in the amount of assets held by either party to the agreement. This also goes to say that the prospect of creating a Cohabitation agreement may seem daunting and confusion but by encouraging open conversation around a usually taboo subject we can find it is not the case.
Working with Cohabitation Agreement Solicitors in Scotland
Creating a Cohabitation Agreement can feel daunting, but our Family Law team makes the process straightforward. Each party should take independent legal advice, and our solicitors in Scotland are experienced in guiding clients through every step. Our lawyers are accredited by the Law Society of Scotland, ensuring professional and reliable service.
Questions About Cohabitation Law?
Does this sound like something which could settle your worries or make your whole moving process easier? If you have questions about cohabitation agreements, need advice on cohabitation law, or simply want to know how to protect your rights when moving in together, our expert cohabitation agreement solicitors are here to help. If so, we have an expert team of Family lawyers which are ready to assist you in your exciting new journey. Contact us now on 0141 433 2626 or via email at clientservices@claritysimplicity.co.uk.
By Breanna Black, Legal Assistant
