REPORTS this week that unmarried couples who move in together will one day secure divorce-style rights against each other have launched a flurry of queries from readers. You have been keen to find out how the Law Reform Commission’s likely recommendation that unmarried women and men should be able to make claims against their partners for a slice of their assets could affect you.

Currently, the courts have limited power to use discretion in awarding settlements for unmarried couples. Instead, where a house is in joint names, it will usually be split 50-50. Despite the current legal situation, there are steps that you can take to protect your property if the relationship fails. Here we answer some of the key questions for unmarried couples.

I am buying a home with my partner. Can I obtain a prenuptial-style agreement to protect my assets in case we separate?

Unmarried couples can, and are advised to, sign a “declaration of trust” when buying a home together. This deed is similar to a prenuptial agreement for married couples.

The declaration of trust sets out the shares each party owns in the home and how they should be distributed when the house is sold. It can be a one-page document drawn up on a word processor at home, or done with the help of a lawyer at the time of buying the property. It must be witnessed by a third party and each party should keep a copy.

Couples should also ensure that the home they buy together is registered in both names on the title deeds. They can also elect on the title deeds to outline how the property is to be owned. If couples tick “tenants in common” or “joint tenants”, then the proceeds from any future sale of the home will be split equally.

Those who contributed different amounts to either the deposit or mortgage repayments, or both, may wish to select a third option: “tenants in common with unequal shares”. If couples tick this box, they should then specify the size of their shares on the title deeds.

Can I protect assets that are not included as part of the home?

A “cohabitation agreement” is a good idea, in addition to the declaration of trust. As well as setting out the shares in the home, this may also be used to specify how any other joint property is to be divided. It might also set out the contributions that each party makes to mortgage repayments and other household expenses. Templates for cohabitation agreements are available on the internet.

What are my legal rights if I do not have a “prenup” and I live with my partner?

In terms of your joint home, if the property was bought in both names and you have elected to be described as joint tenants on the title deeds, the law is that the property will be split 50-50 when the house is sold – except in highly unusual circumstances.

However, if one partner is named solely on the title deeds, the law says that the other party has no claim to the property.

I am already living with my partner, but we do not have an agreement. Can I do anything to protect my assets?

It is not too late to draw up a declaration of trust and a cohabitation agreement, and it is a good idea to do so. This may apply if you bought the property together, or if one partner moved into the other’s home and began contributing to the mortgage.

But if you are considering amending the title deeds, it is best to seek legal advice because a transfer of property arises when adding a name to the documents. You also incur stamp duty if the mortgage is more than £125,000.

Should I bother to draw up an agreement if there are changes to the law coming that will increase the chance of a fair settlement?

Yes. Experts predict that any changes, even if adopted by the Government, may not become law for another year and a half. The Law Reform Commission was not instructed to draw up draft legislation to accompany its recommendations. This must take place before a Bill can be introduced to Parliament. Any laws to bring about extensive changes to the position for unmarried couples are unlikely to be passed before next year.

Finally, individuals with substantial wealth should seek independent advice.

Get it in writing

YOU can draw up a simple declaration of trust or cohabitation agreement using basic templates that can be found online at Advicenow.org.uk, a not-for-profit website, or Love-and-money.co.uk, run by Skipton Building Society. The Government’s advice and pro-forma agreements for cohabiting couples are at www.direct.gov.uk. If you prefer to use a solicitor, do a postcode search for one on Resolution.org.uk.