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Cohabitation Agreement For Married Couples

Cohabitation Agreement For Married Couples Template for Canada

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Cohabitation Agreement For Married Couples

"I need a Cohabitation Agreement for Married Couples that specifically addresses the protection of my technology startup company and our properties in both Canada and the US, with particular emphasis on intellectual property rights and future company valuations."

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Document background
The Cohabitation Agreement For Married Couples is a crucial legal document used in Canadian jurisdictions to establish clear terms for financial and property arrangements between married spouses. This agreement is particularly important for couples who want to define their rights and obligations regarding property division, financial responsibilities, and support obligations during marriage and in case of separation. It must comply with both federal legislation (such as the Divorce Act) and provincial family law requirements. The document typically includes detailed financial disclosure, property inventories, and specific provisions for various assets and obligations. While similar to a prenuptial agreement, this document is created after marriage and can be especially valuable for protecting business interests, inheritance rights, and pre-owned assets. The agreement must be properly executed with independent legal advice for both parties to ensure enforceability.
Suggested Sections

1. Parties: Identification and details of both spouses entering into the agreement

2. Background: Recitals explaining the context of the agreement, including marriage date and purpose of the agreement

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Purpose and Intent: Clear statement of the parties' intentions in entering the agreement and its desired legal effect

5. Independent Legal Advice: Confirmation that both parties have received independent legal advice before signing

6. Property Rights: Details of how property owned before marriage and acquired during marriage will be treated

7. Financial Obligations: Overview of how couples will handle joint and individual financial responsibilities

8. Debts and Liabilities: Treatment of existing and future debts, including joint and individual liabilities

9. Household Expenses: Agreement on how shared household expenses will be divided and managed

10. Separation Provisions: Terms that will apply if the parties separate, including property division and support

11. Dispute Resolution: Process for resolving any disputes that arise under the agreement

12. Amendment and Review: Procedures for modifying the agreement and periodic review requirements

13. Governing Law: Specification of the applicable provincial/territorial law governing the agreement

14. Severability: Clause ensuring remaining provisions stay valid if any part is found unenforceable

15. Execution: Formal signing and witnessing requirements

Optional Sections

1. Children: Provisions regarding existing or future children (note: courts retain jurisdiction over child-related matters)

2. Business Interests: Special provisions for handling business assets and income when one or both spouses own businesses

3. Inheritance Rights: Specific terms regarding inheritance and estate planning, particularly for blended families

4. Pets: Provisions regarding ownership and care of pets in case of separation

5. Cultural or Religious Obligations: Specific provisions relating to cultural or religious practices and obligations

6. International Assets: Special provisions for couples with assets in multiple jurisdictions

7. Intellectual Property: Provisions regarding ownership and rights to intellectual property

8. Support Obligations: Specific terms regarding spousal support in case of separation

9. Retirement Assets: Special provisions for handling retirement accounts and pension benefits

10. Family Gifts and Loans: Treatment of gifts or loans from family members during the marriage

Suggested Schedules

1. Schedule A - Financial Disclosure (Party 1): Detailed list of Party 1's assets, liabilities, and income at time of agreement

2. Schedule B - Financial Disclosure (Party 2): Detailed list of Party 2's assets, liabilities, and income at time of agreement

3. Schedule C - Pre-Owned Property: Inventory of property owned by each party before marriage

4. Schedule D - Excluded Property: List of assets explicitly excluded from division under the agreement

5. Schedule E - Joint Property: Inventory of property jointly owned at time of agreement

6. Schedule F - Certificates of Independent Legal Advice: Signed certificates from lawyers confirming independent legal advice

7. Schedule G - Property Valuation Reports: Professional valuations of significant assets (if applicable)

8. Schedule H - Business Valuations: Valuations of business interests (if applicable)

9. Schedule I - Pension Information: Details of pension and retirement accounts

10. Schedule J - Insurance Policies: List of life, health, and other insurance policies

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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