VANCOUVER, BC--(Marketwired - June 24, 2016) - Kushner Law Group, a team of litigation lawyers, stresses the importance of cohabitation agreements in their latest blog. Under BC's relatively new Family Law Act, two people who live together in a marriage-like relationship for two years or more are considered to be spouses. This can be a problem for individuals who happen to be roommates but have no intention of entering into a marriage-like commitment. For more, go to: http://kushnerlaw.ca/weak-cohabitation-agreements-vancouver-bc-law/
Call it the unexpected consequences of an expensive housing market, but to avoid litigation, it may be necessary to sign a cohabitation agreement -- similar to a prenuptial agreement, but does not require marriage.
To ensure a cohabitation agreement is binding, it's important for both parties to consult with a lawyer privately to ensure that they understand the rights that they may be foregoing. The Family Law Act has a specific regime in place for property division, and cohabitation agreements often opt-out of this.
Finally, a binding cohabitation agreement requires both parties to make full and accurate financial disclosure. Under the Family Law Act there is a presumption of equal division of family property, and it is important that both parties be fully aware of the other's financial assets and liabilities before signing an agreement. If one party is found to have hidden or concealed their assets, the agreement can be nullified.
For any questions regarding the creation or the enforceability of a cohabitation, prenuptial, or marriage agreement, it's always best to consult with a lawyer who specializes in Family Law. Contact the Kushner Law Group today at 604-629-0432 to schedule a consultation.
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The Kushner Law Group was founded on the principle that a small law firm should be able to offer the same level of legal advice as a big firm at an affordable cost. A unique combination of legal experience and creativity allows the professionals at Kushner to come up with creative and practical solutions for a variety of legal problems.
For additional information, please visit http://kushnerlaw.ca/ or call 604-629-0432.