A cohabitation agreement is a legal document that outlines the rights and responsibilities of individuals who are living together in a common-law relationship. It can cover a range of issues, such as property division, debt allocation, and support payments.
If you are living in Ontario, Canada, it is important to have a cohabitation agreement in place to protect yourself and your partner. But where do you start? In this article, we will provide you with a sample cohabitation agreement Ontario to guide you in creating your own document.
Before we dive into the sample cohabitation agreement Ontario, let`s first discuss why it is necessary to have one. First and foremost, a cohabitation agreement helps to protect your interests in the event of a separation. Without one, you may be subject to the default laws of Ontario, which may not necessarily reflect your wishes. Additionally, a cohabitation agreement can help clarify financial expectations and prevent misunderstandings between you and your partner.
Now that you understand the benefits of a cohabitation agreement, let`s take a look at the sample document. Please note that this is a general template, and you should consult with a lawyer to ensure that your specific needs and circumstances are addressed.
Sample Cohabitation Agreement Ontario:
PARTNERS: [Names of partners]
DATE OF AGREEMENT:
1. Definitions
a. «Partner» refers to the individuals listed above.
b. «Relationship» refers to the common-law relationship between the Partners.
2. Property Division
a. Each Partner will keep any property that they brought into the Relationship.
b. Any property acquired during the Relationship will be owned jointly by the Partners, unless otherwise agreed upon in writing.
c. In the event of a separation, the Partners agree to divide joint property fairly.
3. Debt Allocation
a. Each Partner agrees to be responsible for their own debts.
b. Any joint debts incurred during the Relationship will be the responsibility of both Partners.
c. In the event of a separation, the Partners agree to divide joint debts fairly.
4. Support Payments
a. The Partners agree that neither will make any claim for spousal support or child support against the other.
b. The Partners agree to discuss and negotiate any support payments for any children of the Relationship, if necessary.
5. Termination of the Agreement
a. Either Partner may terminate this agreement at any time by giving written notice to the other Partner.
b. Termination of this agreement will not affect any property or debt division agreed upon in writing.
6. Governing Law and Jurisdiction
a. This agreement will be governed by and construed in accordance with the laws of Ontario.
b. Any disputes arising out of this agreement will be resolved by the courts of Ontario.
IN WITNESS WHEREOF, the parties have executed this agreement on the date first above written.
Partner 1: ____________________________
Partner 2: ____________________________
As you can see, a cohabitation agreement can cover a range of issues and provide clarity for both partners in a common-law relationship. While this sample cohabitation agreement Ontario can serve as a useful guide, it is important to consult with a lawyer to ensure that your specific needs are addressed. With a well-crafted cohabitation agreement in place, you can feel confident that your interests are protected and focus on building a happy and healthy relationship with your partner.