before you begin searching for a home, you should compare mortgage options and determine who is applying for the mortgage. your title provides proof of ownership and a physical description of the property. for instance, your lender will have a lien on your title until the mortgage is repaid in full. in your cohabitation property agreement, you’ll also want to lay out how you and your partner will pay for the additional home expenses.

the terms “co-owner” and “partner” differ in a number of ways with respect to the ownership of a business. partners contribute money, property or personal labor or skill, with the expectation of sharing in an organization’s business profits and losses. whether you are a partner or a co-owner of a business is important for personal income tax liabilities and personal liability in business debts and for tort claims. the personal liability of such co-owners is limited to the value of the number and type of stock certificates owned. a partner is a co-owner of a specific type of business entity recognized by the law and referred to as a partnership. partners contribute money, property or personal labor or skill, with the expectation of sharing in an organization’s business profits and losses.

a cohabitation agreement, or a living together agreement, is a written contract used by unmarried couples who live together that describes their property rights and financial obligations during the relationship and after it ends. a cohabitation agreement allows you to agree on how your property (including personal items, savings, and other assets) will be split if the relationship breaks down. when you create the document, you can have provisions that clearly state: with these kinds of terms about property, a cohabitation agreement is similar to a roommate agreement or a prenuptial agreement. to have the same financial inheritance rights as a married couple, you can list your partner as a beneficiary of any relevant financial assets.