Drafting Ontario Cohabitation Agreement Essential Clauses and Considerations

Thu, 30 Nov 2023 11:03:18 +0000

⁣When it comes to cohabitation agreements in Ontario, there are several key aspects to consider.

Whether you're moving in together, buying property, or planning for children, a cohabitation agreement sets clear expectations.

Essential clauses cover property division, detailing what's owned individually or together, and plans for gifts or inheritances.

Financial arrangements are crucial, including handling debts, expenses, and savings.

For resolving disputes, consider mediation or arbitration to avoid court battles.

Joint bank accounts need rules for contributions and expenditures.

Discuss who pays for what and how to adjust if financial situations change.

In real estate matters, decide on title rights, mortgage payments, and equity sharing.

Address children’s custody and support, and care for other dependents.

Protect your pre-cohabitation assets and keep certain finances separate.

Regularly review and amend your agreement to reflect life changes.

If the relationship ends, have clear steps for property division and legal formalities.

Before drafting your agreement, gather all necessary documents and seek legal advice.

Remember, a thorough and honest approach is key to a bulletproof cohabitation agreement in Ontario.

For a consultation or more information, call us at (647) 254-0909 or visit our website - https://separationagreementontario.ca/