Falling in love with someone is pretty easy. You have your separate lives beyond that person. You meet for a couple of hours a day or maybe a week and continue to go around other things. However, things usually change when you decide to live together. Therefore, it is not uncommon to see couples who have had love marriages complaining that he/she was so different before we actually started living together.
Issues such as he/she does not contribute towards the rent or house-hold expenses, etc start off as petty issues but eventually end up becoming major concerns for many couples. This is where the live-in agreements or the Cohabitation Agreements come to the rescue of such couples.
A live-agreement is a legal document stating how the couple wishes to own and/or share the individual and joint assets and liabilities held by them and how it would be divided in case the relationship comes to an end or one of them dies.
It includes where will the couple be staying, how would they split their finances, what would each of their responsibilities and contributions be, who would have the entitlement over which assets and such matters, saving the couple from having ugly fights over such issues in the future as both of them are well aware and mutually agree over such concerns.
Therefore, a live-in agreement is very useful in determining and protecting the rights and enforcing duties upon the partners who decide to live-in.
Ideally, it is presumed that a live-in agreement is made just before the couple decides to move in together or at the time of moving in. However, you can make a live-in agreement with your partner even though you have been living-in together for many years.
The legality of such agreements is still very odd in law, therefore it is even more necessary to have your agreement drafted by a good and competent legal attorney who is able to make an agreement that is enforceable if in case things go wrong or one of the partners violates the terms and conditions agreed upon.