Cohabitation Agreement – Life Partnership – with Accrual

COHABITATION AGREEMENT / LIFE PARTNERSHIP AGREEMENT

 With Accrual

Summary This Cohabitation (or Life Partnership) Agreement may be used by two people who live together as if husband and wife, but are not married. The Agreement specifies how the parties’ assets are to be dealt with in the event of death or a separation between the couple, as well as the parties’ respective obligations in respect of expenses. For the purpose of calculating the split of their joint estate, this Life Partnership Agreement provides for the accrual of the couple’s estate during the relationship.

Also viewed: Cohabitation Agreement – no Accrual

Who should use a Cohabitation or Life Partnership Agreement? A cohabiting, unmarried couple who are in a relationship and living with each other should seriously consider signing a Cohabitation Agreement, thereby protecting both parties’ financial interests. A Life Partnership Agreement strives to set out the financial terms of a couple’s relationship and provide protection for the parties upon death or should the relationship fail. This Life Partnership Agreement may be used for both same-sex relationships as well as heterosexual relationships.

What does the Cohabitation or Life Partnership Agreement say? The Agreement consists of: Introduction; Patrimonial Issues; Rights of Support; Household Expenses; Arbitration and Termination; General; Appendix of assets.

What does the agreement look like? The template Life Partnership Agreement can be printed onto eight pages.

What do you need to do to use this Cohabitation or Life Partnership Agreement?

• Read the template Life Partnership document to ensure that it suits your requirements. Make changes to suit your unique needs, as required.
• Fill in the blanks and complete the annexures with the relevant details.
• Ensure both parties sign the agreement.
• Provision has been made for the parties to sign the agreement before a commissioner of oaths, if required.

Also known as: Life Partnership Agreement; Conditions of Cohabitation; Cohabitation Contract

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