Document background
The Cohabitation Property Agreement serves as a crucial legal instrument for unmarried couples living together in Australia who wish to establish clear property rights and financial arrangements. This document becomes particularly important given the legal recognition of de facto relationships under the Family Law Act 1975 and various state legislations. It provides certainty regarding property ownership, financial responsibilities, and asset division, helping prevent potential disputes. The agreement should be prepared when couples commence cohabitation or at any point during their relationship, requiring full financial disclosure from both parties and independent legal advice to ensure enforceability. It typically includes detailed provisions for existing assets, future acquisitions, financial obligations, and property division procedures in case of relationship breakdown.
