What is a cohabitation agreement?

Many couples choose to cohabitate or live together with no immediate intention of getting married. This arrangement may last for years, creating a need to address financial matters and property issues between the two parties.

To do this, couples often draft what's known as a cohabitation agreement or "cohab" for short. This kind of document helps to fill in the protective gaps that unmarried couples often experience with regard to the legal rights and obligations that married couples are provided by law.