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Cohabiting with a partner: protecting assets

Date:12 SEP 2019

Press reports of Boris Johnson and his partner arguing days before moving into No. 10 together has raised questions about the longevity of their cohabitation. However  with the number of cohabiting couples continuing to increase  how can lawyers advise those those who choose to move in together protect their assets in the case of a breakup? 

Carrie Symonds is the first 'unmarried' PM partner to reside at Downing Street – confirmation if we needed it that couples choosing to simply cohabit (rather than marry before living together) is becoming the norm.  Marriage is no longer the main priority for every couple with many considering living together  commitment enough. As well as cohabiting being deemed as more socially acceptable than ever before  it has practical appeal too. For many  allowing the financial responsibility of owning and running a household to be shared can make a lot of sense until a relationship breakdown.  

Contribution complications 

Although seemingly practical in many respects complexities can arise depending on how a property is owned. If a couple own a home in joint names and both contributed equally to the deposit and are named and so liable on the mortgage then the risk is minimal. On separation it is likely that the equity in the property will be divided equally.  So far so straightforward...

Read the full article here.