Living with your partner - how a living together agreement can protect your finances.
If you're cohabiting with your partner, a living together agreement may be worth considering.
Every year thousands of couples move in or buy a house together but many have no idea about how little protection the law gives them. You can live in your partner's house for decades and find you may not be entitled to anything when you split up. In Scotland and Northern Ireland, the situation is slightly different, but there’s still no automatic right to a share of your partner’s property. If you want to make your position crystal clear you should consider drawing up a legal agreement.
What are your rights if you live with your partner? What to think about before you move in.
Many cohabiting couples don’t realise how few rights they have when they live together. Make sure you understand yours.
Many couples who live together assume they have far more rights than they do. The phrase ‘common law wife’ doesn’t exactly help as it implies you have some status – and therefore protection by law – simply because you live together. However, the reality is that you don’t (the law does give some protection to cohabiting couples in Scotland but it's still limited). No one wants to draw up a business contract at the start of a new phase in a romantic relationship but it’s worth – at the very least - thinking about how living together could affect your finances.
Living together; does your partner have any rights to your property once you live together?
Many couples worry about whether their partner will have rights to their property if they live together. So what’s the answer?
One question that’s come up several times recently in the ask the experts section is ‘will my boyfriend have a claim on my flat if he moves in with me?’. Couples currently have very few rights and one partner generally doesn’t acquire the right to a share in the other’s property purely because they live together. However, it can be a bit of a grey area so it’s probably better to protect yourself with a written agreement.