You’re moving in together, what an exciting time!

You’re happy you’ve found someone that you want to live with and I come along telling you to create a document to protect yourselves…just in case.

Just in case what? Just in case your relationship ends. Just in case you have a different understanding of what you “agreed” on. Just in case the other passes away or no longer has the capacity to make decisions.

I know I sound like a party pooper but I really am just trying to make sure you’re set up for success. You won’t worry about something going wrong, if you’ve already decided how you will handle it!

What should you consider? 

 Click on a heading below to find out more.

If you're moving into your partner's home.

Things to consider.

  • Will you be on title? On mortgage?
  • Will you buy-into equity or have an unequal split?
  • Will you agree that your partner’s equity is all theirs? Present value or forever more?
  • Will you pay for maintenance?
  • Is there room for your furniture?
  • Will you sell your home or rent it?

If you're buying a new home.

Things to consider.

  • Do you each have the same down payment?
  • Will you own it 50/50?
  • What happens if one of you doesn’t or can’t pay their monthly obligation?
  • Will you be joint tenants with rights of survivorship or joint tenants in common?
  • If your relationship ends, will you sell the house or can one buy the other out? How will this process work?

If you are renting together.

Things to consider.

  • Do you have too much furniture?
  • You have a child and your partner doesn’t, should you pay 50/50 or another percentage?
  • Will you both be on the lease?
  • If your relationship ends, who will get to continue the lease?

Are you common-law?

This is an important factor to consider.

In Ontario, common-law partners don’t have the same rights to property as married couples.

If your relationship ends or your partner passes and you are not on title or lease and/or don’t have an agreement, you may have to move before you are ready.

You may not have rights to your partner’s estate.

You may not have the right to make health or financial decisions.

You may receive different tax benefits for living common-law. (Note that common-law status for Canada Revenue Agency may not be the same as it is for Family Law).