Understanding Property Division Cohabitation and Marriage Impact

Sun, 28 Apr 2024 06:58:50 +0000

⁣This informative video dives into the complexities of property division in both common-law relationships and marriages, explaining how cohabitation impacts the process. The video starts with a visual metaphor of a house being divided, setting the stage for a deeper understanding of legal distinctions. It first addresses common-law partners, emphasizing that property rights are based on ownership and contributions to the property's value. It suggests securing a cohabitation agreement for clarity and protection, similar to a prenuptial agreement. For married couples, it explains how prior cohabitation can affect property division, especially if the marriage duration is short compared to the cohabitation period. The video also offers practical advice for protecting assets, like maintaining separate finances and documenting contributions to shared property. Ending with a comprehensive guide on the whiteboard, it underscores the importance of preparation and legal consultation to safeguard one's financial interests in a relationship.

Find out more at - https://separationagreementont....ario.ca/co-habitatio