M 29yrs old Divorcee, wants to know abt Live - in - Relationship?

M 29 yrs old Divorce. m planning to marry a Guy, who is 32 yrs looking for Divorce. His ex wife is not leaving with him since last 1 year and also not giving him divorce. I can't marry him legally unless and untill he gets the divorce. We have decided to live in Live-in-Relationship. Our families are also ready for the same. I want to know whether my decision is right? Also want to know which all the rights i will be getting in Live-in-Relationship? Which all the rights are applicable for me by Indian Law? What all the steps to get legal to this Relationship?