A declaration of confidence is legally binding as long as it is properly drafted and executed. To ensure that all legal requirements are met, make sure that you advise a lawyer on the impact of the declaration and ensure that specific procedures are followed. A declaration of confidence is an agreement that is the origin of the right to a property and establishes the true ownership of the property. It will confirm how the proceeds of the sale will be shared when the property is sold. If the property is an income product that generates a buy-to-let. B, it can also indicate to whom and to what extent the income is paid. It can also confirm various other agreements between the co-owners, for example. B, who will pay the mortgage and to what extent. “Confidence declarations are not a pipe dream if you want to protect your interest in property,” Perrins said. Cohabitation agreements are often concluded by associations that form a new relationship after divorce or the dissolution of a registered partnership. These unions are more aware of the financial impact of the breakdown of relations.
Many therefore enter into a cohabitation agreement to ensure their own financial security and, in some cases, to protect a future inheritance for their children. Rising housing costs have made it difficult for first-time buyers to access real estate managers. As a result, they must save longer to earn an adequate deposit, or they decide to pool their financial resources and acquire real estate with others to live together. After fighting to save a surety, unions are less willing to risk a future dispute over property ownership. They are increasingly entering into cohabitation agreements to demonstrate positive interests in condominium ownership and, ultimately, to secure their investments. This is also the case, even if you pay half the mortgage, it does not automatically mean that you establish an interest in the property, no matter how long you lived together. There is no common law wife or husband. You can own your own home and want to protect it from a new partner, unless you reach an agreement on your individual rights to the property, you cannot be sure that your interest will be protected. Due to the complexity of the law in this area, we recommend that our clients state their intentions before they begin to live. Whether you are planning to move in with someone or buy a house together, it is important that you present your plans for your life together and what you can expect if you separate from the outset. It is often difficult to ask the question of entering into a cohabitation agreement with their partner, especially when the couple lives together in land that is the only one owned by one of them. Non-possessing unions may perceive the application as their partner, who doubts their sincerity and commitment to the relationship.
Some reflect on what should happen at the end of the life together before they have even begun to live together, showing doubts about the permanence and longevity of the relationship. What is the difference between a declaration of confidence and an agreement on cohabitation? The situation regarding cohabitation agreements is less simple. It is not clear whether they can be confirmed and applied by the Court of Justice. This is because it was initially thought that they were at odds with public order, because they undermined the sanctity of marriage.