All About Cohabitation Agreements
If you’re living with a common law partner, you may want to get a cohabitation agreement. This blog post provides a helpful overview of cohabitation agreements in Ontario, and how Downtown Notary can help you with notarizing your cohabitation agreement.
What is a cohabitation agreement?
A cohabitation agreement is a domestic contract between you and your common-law partner that sets out your respective rights, responsibilities and obligations if your relationship ends. You can enter a cohabitation agreement before you start living together, or while you are living together. However, it is recommended that you have a legally binding cohabitation agreement in place within 36 months of first moving in together, because this may have an impact on spousal support.
A cohabitation agreement can cover topics that are tailored to your specific needs such as spousal support, division of specific family property, household contents, and personal assets and debts if you and your partner end your relationship. This could include shared property like pets, furniture, cars, gifts, joint investments, joint bank accounts and joint credit card debt. It can also include terms regarding any family residence or cottage, whether owned by both spouses or only by one spouse.
Why would a couple want a cohabitation agreement?
There are a few reasons why cohabitation agreements are recommended if you and your partner are thinking about moving in together, or already live together.
For many people, a common law relationship is equal to a marriage. However, when a common law relationship ends, Ontario law provides different protection, rights and obligations for common law partners than for married spouses. If a common law relationship ends, it can be difficult and expensive to determine how to divide property and assets that were acquired during the relationship.
A cohabitation agreement can protect or limit your financial risk or liability upon separation by setting out how family and individual assets will be divided.
How do I create a cohabitation agreement?
There are two main ways to create your cohabitation agreement.
You can speak with a family law lawyer for assistance with negotiating and drafting of your agreement. Or you can use an online template for cohabitation agreements, like the cohabitation agreement document available from LawDepot: Cohabitation Agreement.
However, it is strongly recommended that a qualified and experienced family law lawyer prepares your cohabitation agreement to ensure that the agreement meets the requirements of a binding and enforceable agreement. Cohabitation agreements that are missing these requirements are unlikely to be upheld in an Ontario court.
If you need assistance with your cohabitation agreement, Holam Law PC can help. Holam Law PC is a boutique law firm that specializes in family law, including cohabitation agreements. Holam Law PC offers a free consultation. Just complete the online consultation request form and you will be contacted within one business day.
Should cohabitation agreements be notarized?
In Ontario, cohabitation agreements must be signed in front of a witness who is also required to sign the cohabitation agreement.
It’s not a legal requirement in Ontario that cohabitation agreements be notarized. However, it is a very good idea to have it notarized. Having a document notarized provides extra assurance that the document was signed and witnessed in accordance with the law. Notaries are like “super witnesses”, which means their signatures are considered more trustworthy and reliable than non-notaries.
Can Downtown Notary notarize my cohabitation agreement?
Yes! We can help you complete your identity affidavit at one of our convenient in-person locations.
We can also complete the document with our online commissioning services. This is how it works:
Create your secure account and book your appointment
Meet with your notary professional by video conference
Electronically sign the custodianship declaration and download the completed document
Done!
Questions?
If you have questions about our notary services for identity affidavits, we’re here to help. Contact us at info@downtown-notary.ca or call us at 647-799-3531.
If you have questions about cohabitation agreements, including your legal rights, contact Holam Law PC. Holam Law PC is a boutique law firm that specializes in family law with a cumulative experience of 21 years and expertise in common law relationships. Contact them by completing the online consultation request form.
