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With more and more couples living together outside of marriage, I think we'll see more and more domestic dissolutions being hashed out in the courts. Even if your state is not a common law state, a person is still entitled to use the court system to seek an equitable division of assets.
What about "pre-cohabiting" assets though? (The equivalent of "pre-marital assets"?)
Wow. Just wow. Very troubling...ppl should not have any "claim" on someone's financial person or assets, w/o a valid legal contract...whether through marriage, or otherwise.
Last edited by Phoenix2017; 06-21-2011 at 06:06 PM..
Reason: Corrected typo
Wow. Just wow. Very troubling...ppl should not have any "claim" on someone's financial person or assets, w/o a valid legal contract...whether through marriage, or otherwise.
Tell that to the IRS, the FBI, the legal system ...
Tell that to the IRS, the FBI, the legal system ...
Lol, ya but that's a different story altogether my friend That's for the greater public good, and for overall social harmony and promoting a healthy, reasonably protected civilization.
What about "pre-cohabiting" assets though? (The equivalent of "pre-marital assets"?)
Wow. Just wow. Very troubling...ppl should not have any "claim" on someone's financial person or assets, w/o a valid legal contract...whether through marriage, or otherwise.
Whoa there, Knight2009, take a breath. Nobody said anything about claiming another person's "pre-cohabitating assets". I think we're talking about mutually acquired assets during the course of a relationship. When people live together they tend to buy things together, such as furniture, appliances, dogs and cats, record collections, as well as houses and cars. Those things need to be divided equitably upon dissolution whether or not you are married.
Sometimes, if one party is not willing to be fair (as is often the case during a breakup - married or unmarried), the other party has the right to pursue the matter in a court of law.
Whoa there, Knight2009, take a breath. Nobody said anything about claiming another person's "pre-cohabitating assets". I think we're talking about mutually acquired assets during the course of the relationship. When people live together they tend to buy things together, like houses, furniture, appliances, dogs and cats, etc. Those things need to be divided equitably upon dissolution whether or not you are married.
Sometimes, if one party is not willing to be fair (as is often the case during a breakup - married or unmarried), the other party has the right to pursue the matter in a court of law.
Haha, k fair enough boodhabunny...sorry for my misunderstanding the earlier post there
Lol, ya but that's a different story altogether my friend That's for the greater public good, and for overall social harmony and promoting a healthy, reasonably protected civilization.
"The tax man cometh"
Out of respect for you (and, a first, for this thread), I'm simply shaking my head in a slow, wisdom-filled manner and letting it go at that.
Agreed, there can be legal consequences, but they can be minimized with a Non-Marital Cohabitation Agreement. There are samples online. Ideally, this should state the financial obligations of each during the cohabitation period, and thus it reduces or eliminates conflict if they split up.
Agreed. However I don't know anyone who has ever used one, do you? I've heard of people having written agreements about who'll do house chores, and which party will pay which bills, but that's about it.
Long ago, I moved in with a guy and a friend/therapist suggested a Cohabitation Agreement. I dismissed her at the time as being hung up on silly details and a fuddy duddy.
Um, unless there is SOME kind of contract (implied by marriage or otherwise written), NO ONE should be buying stuff together.
I agree. I had a friend that bought a condo with her "fiance." She put up most of the down payment and he was going to pay the mortgage. It was supposed to be an investment and a vacation home - they weren't living there. Months later, he broke up with her and told her that she could "have" the apartment. Well, that meant paying the mortgage on it - which he hadn't done in a couple months or so. They also bought high and she had to take a huge loss when she sold it. She had trusted him and hadn't looked into any details of the sale. Lesson learned.
Agreed. However I don't know anyone who has ever used one, do you? I've heard of people having written agreements about who'll do house chores, and which party will pay which bills, but that's about it.
Long ago, I moved in with a guy and a friend/therapist suggested a Cohabitation Agreement. I dismissed her at the time as being hung up on silly details and a fuddy duddy.
Live and learn!
I had one. It turned out to be extremely useful when she became temporarily disabled and needed to apply for benefits, because otherwise I'd have been considered part of her household and she would have been denied benefits based on my income. So, the obvious benefits it has in case of a breakup are not necessarily the most important.
Eventually we did marry, but that's another story.
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What about "pre-cohabiting" assets though? (The equivalent of "pre-marital assets"?)
That's for the greater public good, and for overall social harmony and promoting a healthy, reasonably protected civilization.
