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What is a Cohabitation Agreement?
A cohabitation agreement can be used when a couple is not married, but live together, and wants to protect their rights and assets in case of a break-up. It is similar to a prenuptial agreement, yet it does not require that the couple get married.
Although, New York does not recognize “palimony” or common law marriage, it is still important to have a cohabitation agreement, to protect your assets and rights. This is because, if you live together, one person can still claim some “rights” to the real property and to the personal property in the residence.
There are different types of issues that can be covered by a cohabitation agreement, such as, but not limited to:
- Distribution of property after a break up
- Responsibilities for debts
- Who gets to live in the residence after a break up
- Support and custody rights (if there are children involved)
- Financial issues
If you are living with your significant other, and need a cohabitation agreement, David Badanes, Esq. and the Badanes Law Office, P.C. can help you and will answer all your questions about the process. David Badanes and the Badanes Law Office, P.C. can be contacted at 631-239-1702, email at firstname.lastname@example.org or visit our web site: www.dbnylaw.com. The Badanes Law Office, P.C. has offices in Northport, Suffolk County and in Uniondale, Nassau County.
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