Ask an Attorney: Co-Tenancy Agreement

 

My significant other and I are unmarried but want to purchase or lease a home together.  What happens if we separate?

Today, many couples live and own or lease property together before getting married. While most couples hope their relationship will last, in the unfortunate event that it does not, couples should consider entering into a co-tenancy agreement with their significant other before purchasing or leasing any property together. A co-tenancy agreement can define each person’s rights and can cover issues such as the payment of mortgage and utility payments, repairs, pets, guests and so on. It can also address issues of how to divide up other types of property if the relationship doesn’t work out.  Before leasing or purchasing a home, parties should have a clear written understanding of all of their rights and obligations. A well-drafted agreement could save many dollars in the future. Contact one of our Annapolis Attorneys today to learn more.

Posted in: HBD Law News