As more and more couples choose to live together before or instead of marriage, cohabitation agreements are becoming increasingly common. These agreements can help protect both partners by outlining how assets will be divided in the event of a breakup, but they must be witnessed to be legally binding.
When it comes to witnessing a cohabitation agreement, there are a few important things to keep in mind. First and foremost, the witness must be impartial and have no personal stake in the agreement. This means that a family member or close friend of either partner would not be an appropriate choice.
Instead, many couples choose to have a lawyer or notary public witness their agreement. These professionals have a duty of impartiality and can ensure that the agreement is legally binding.
It`s also important to ensure that both partners sign the agreement in the presence of the witness. This helps to prevent any disputes about whether or not the agreement was properly executed.
Once the agreement has been signed and witnessed, both partners should keep a copy in a safe place. It`s also a good idea to review the agreement periodically to ensure that it still reflects both partners` wishes.
In addition to protecting assets, a cohabitation agreement can also be a helpful way to clarify expectations and responsibilities within a relationship. By outlining things like how household expenses will be shared and who will be responsible for certain tasks, partners can avoid misunderstandings and potential conflicts down the line.
Overall, if you`re considering a cohabitation agreement, it`s important to ensure that it`s properly witnessed. By working with a lawyer or notary public, you can ensure that your agreement is legally binding and provides the protection you need.
