How Do Cohabitation Agreements Work?

Couples often want the benefits of a shared residence such as lower mortgage or rent expenses and shared groceries and utilities. But couples often do not want to take the step of getting married. Having a clearly spelled out agreement for asset division can create peace of mind and understanding between couples in the event that the couple breaks up or if one of the partners dies.

Attorney Robert K. Downs has over 50 years of family law experience in and out of the courtroom. With this body of knowledge gained over time, he can help you understand and apply the Cook County cohabitation and property rights laws.

Call Downs Law Offices in Chicago to schedule your initial consultation at 312-781-1963.

What Do Cohabitation Agreements Cover?

Cohabitation agreements are the same as premarital and postmarital agreements. These agreements can account for a variety of assets such as:

  • Property the couple purchases together, including houses, condominiums, town homes and vacation homes
  • Motor vehicles
  • Sport recreational vehicles such as Jet Skis, ATVs and boats
  • Furniture and other assets purchased jointly or owned by one person but used in the cohabitation residence
  • How much of ongoing bills will be paid by each partner
  • What will happen if one partner moved out

Who Should Get A Cohabitation Agreement?

Illinois does not have common law marriage, so people who are unmarried but living together need property agreements spelled out if they want clarity about who owns what and what will happen if the couple chooses to separate. A written agreement can explain and designate what will happen to property if the couple doesn't get married and breaks up.

People who should get cohabitation agreements include any couple that doesn't want to get married, but wants an agreement for acquiring property such as:

  • Same-sex couples
  • Unmarried couples who decide to live together before getting married
  • People who are already living together but decide they would benefit from clarity in asset ownership

Call Us To Discuss Your Needs

At Downs Law Offices, we are known for providing clients with straightforward advice. Our lawyer can assist you in establishing a cohabitation agreement to meet your individual situation. Call us to schedule your consultation at 312-781-1963, or email our office to make an appointment.