Moving in together, whether as roommates, partners, or friends, is an exciting milestone. But what happens if things don’t go as planned? A co-habitation agreement can help clarify responsibilities and expectations before issues arise.
What is a Co-Habitation Agreement?
A co-habitation agreement is a legal document that outlines financial and legal obligations when people share a home. It covers aspects like:
Rent and utility payments
Property ownership and division
What happens if someone moves out
Conflict resolution procedures
Why It’s a Smart Move
Avoids misunderstandings: Clearly defining responsibilities reduces potential conflicts.
Protects your financial interests: Ensures no one is left unfairly covering extra expenses.
Provides legal clarity: If disagreements arise, the agreement acts as a guide for resolution.
Learn More
Interested in setting up a co-habitation agreement? Visit https://yourmagnoliagroup.ca/cohabitationagreement for more details on how to create one that suits your needs.
Final Thoughts
While no one likes to think about worst-case scenarios, preparing for them is the best way to protect yourself and your home. A co-habitation agreement ensures that everyone involved understands their rights and responsibilities, making for a more harmonious living arrangement.