Cohabitation Agreements in Ireland
Under Irish law, couples who have lived together for a period of 5 years — or 2 years, with a child — in an intimate and committed relationship, are considered ‘cohabitants’. If one of the parties is financially dependent on the other, then they are entitled to make a number of limited financial applications under the legislation, should the relationship breakdown.
In order to protect any future claim, unmarried couples can enter into what is known as a ‘Cohabitation Agreement’. Such an agreement should be entered into with independent legal advice, signed by both parties, and witnessed by their respective solicitors. Once completed, the agreement becomes legally binding under Irish law.
The agreement will set out what the future financial redress will be if the relationship breaks down, or on the death of one of the cohabitants. Within the agreement, the parties may agree whatever they deem fair and just, subject to legal advices.
The agreement can deal with possible future events — for example, the parties can agree what will happen should the relationship end within 5 years, 10 years, 15 years or more, and the parties can set out the obligations of one party to the other in terms of properties, debts, bank accounts, shares and other financial matters.
Such agreements can be as detailed or as simplistic as the parties wish. However, full financial transparency is required on entering into such agreement. Therefore, each parties' assets, liabilities, income and pensions need to be scheduled and annexed to any agreement signed by the parties.
Whilst the agreement is legally enforceable under Irish law, it is worth noting that the court may vary or set aside a cohabitation agreement in exceptional circumstances, where its enforceability would cause serious injustice to one or both of the parties.