NOW, the parties agree, taking into account the upcoming financial agreement and taking into account the promises and mutual agreements contained in this agreement, that by a concubling or de facto contract, you may quarantine certain assets prior to litigation in a real estate transaction. This means that, unlike other states in Australia, if you live in VA, your concubine agreement must comply with the provisions of the Family Court Act 1997 instead of the Federal Family Act. On the other hand, the agreements work in much the same way. In the event of a relationship failure or death of a partner, a financial agreement (also known as a concubine agreement) helps clarify the respective property rights, financial obligations, and liabilities arising from the joint lease. The rights and obligations of the parties can be set out in simple English, thus eliminating the burden of insecurity. Example 1 of the Defacto agreement.