A cohabitation agreement is a legal document created by two people who live together but are not married. This agreement outlines the rights and responsibilities of each partner regarding property, finances, and other important matters. It helps clarify expectations and can prevent disputes if the relationship ends. These agreements are particularly useful for couples who want to protect their individual assets or define how shared expenses will be handled. By having a cohabitation agreement, partners can ensure that their wishes are respected, similar to how a prenuptial agreement functions for married couples.