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Cohabitation Agreement
"I need a cohabitation agreement outlining financial responsibilities, property division, and debt management for a couple living together for 5 years, with a clause for dispute resolution and a 6-month notice period for termination."
What is a Cohabitation Agreement?
A Cohabitation Agreement is a legal contract between unmarried partners who live together in the Philippines, spelling out their rights and responsibilities. It covers important aspects like property ownership, shared finances, and how to handle joint assets if the relationship ends.
While not as formally recognized as marriage under Philippine law, these agreements help protect both partners' interests and prevent costly disputes. They're especially useful for couples who own property together, share business ventures, or have children, since Filipino family courts don't automatically grant the same rights to unmarried partners as they do to married couples.
When should you use a Cohabitation Agreement?
Consider creating a Cohabitation Agreement when you and your partner decide to live together in the Philippines but aren't ready for marriage. This becomes especially important if you're planning to buy property together, start a joint business, or share significant financial responsibilities.
The ideal time to draft this agreement is before moving in together or making major joint purchases. It's particularly crucial for couples where one partner brings substantial assets to the relationship, when there are children involved, or if either partner has existing financial obligations. Getting it in writing early helps prevent misunderstandings and protects both parties' interests.
What are the different types of Cohabitation Agreement?
- Living Together Contract: Basic agreement covering daily living arrangements, household expenses, and property ownership
- Prenup For Unmarried Couples: Comprehensive agreement focused on protecting pre-existing assets and future financial arrangements
- Cohabitation Agreement Online: Simplified digital version for basic living arrangements and financial responsibilities
- Cohabitation Separation Agreement: Specifically addresses property division and financial settlements if the relationship ends
Who should typically use a Cohabitation Agreement?
- Unmarried Couples: The primary parties who create and are bound by the Cohabitation Agreement, typically those living together or planning to cohabitate
- Legal Professionals: Lawyers who draft, review, and ensure the agreement meets Philippine legal requirements and protects both parties' interests
- Property Owners: Individuals who own real estate or significant assets and want to clarify ownership rights while cohabiting
- Financial Advisors: Professionals who help couples structure financial arrangements and asset protection within the agreement
- Notary Public: Officials who authenticate the document and witness signatures to make it more legally robust
How do you write a Cohabitation Agreement?
- Personal Details: Gather complete names, contact information, and current addresses of both partners
- Asset Inventory: List all individual and joint properties, vehicles, investments, and significant belongings
- Financial Information: Document current incomes, debts, savings, and planned financial contributions to shared expenses
- Living Arrangements: Outline housing details, rent/mortgage responsibilities, and household expense sharing
- Future Plans: Consider joint purchases, property acquisitions, or business ventures you may pursue together
- Documentation: Collect property titles, bank statements, and other relevant financial records
- Legal Review: Our platform generates a customized agreement that includes all required elements under Philippine law
What should be included in a Cohabitation Agreement?
- Identification: Full names, addresses, and contact details of both partners
- Property Rights: Clear designation of individual and jointly owned assets, including future acquisitions
- Financial Terms: Detailed breakdown of expense sharing, savings contributions, and debt responsibilities
- Living Arrangements: Housing terms, maintenance responsibilities, and household management
- Separation Provisions: Process for property division and financial settlement if the relationship ends
- Governing Law: Statement that the agreement follows Philippine law
- Signatures: Dated signatures of both parties and two witnesses, with notarization
- Amendments: Process for making future changes to the agreement
What's the difference between a Cohabitation Agreement and an Asset Purchase Agreement?
A Cohabitation Agreement differs significantly from an Asset Purchase Agreement in both purpose and scope, though both deal with property rights in the Philippines. While they may seem similar when couples are acquiring property together, their legal functions are quite distinct.
- Legal Purpose: Cohabitation Agreements primarily govern personal relationships and shared living arrangements, while Asset Purchase Agreements focus solely on the transfer of property ownership
- Scope of Coverage: Cohabitation Agreements cover ongoing rights, responsibilities, and future arrangements between partners, whereas Asset Purchase Agreements deal with one-time property transactions
- Duration: Cohabitation Agreements remain active throughout the relationship, but Asset Purchase Agreements terminate once the property transfer is complete
- Parties Involved: Cohabitation Agreements are between romantic partners living together, while Asset Purchase Agreements can involve any buyers and sellers, including businesses
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