REAL ESTATE JOINT VENTURE AGREEMENTTHIS AGREEMENT is made and entered into this __ day of ____, 20__, by and between ______________________, a Colorado corporation, hereinafter “Party A”, and ______________________, a Colorado corporation, hereinafter “Party B”, (collectively referred to as the “Joint Venturers”), pursuant to the Colorado Revised Statutes.
ARTICLE 1: PURPOSE OF THE JOINT VENTUREThe purpose of this Joint Venture shall be to purchase, manage, operate, and sell real estate in the state of Colorado. The specific property to be purchased shall be located at ______________________.
ARTICLE 2: CONTRIBUTIONSParty A and Party B shall each make an initial capital contribution to the Joint Venture, the amount and nature of which shall be determined and agreed upon by the parties. Further contributions, if necessary, shall be made in proportion to the parties’ initial capital contributions, unless otherwise agreed.
ARTICLE 3: DISTRIBUTION AND ALLOCATION OF PROFITS AND LOSSESThe profits and losses from the Joint Venture shall be shared equally between the Joint Venturers, unless a different proportion is agreed upon and stated in writing.
ARTICLE 4: MANAGEMENT AND CONTROLAll decisions concerning the management and control of the Joint Venture shall be made by mutual agreement of the Joint Venturers. In the event of a deadlock, the parties agree to appoint a third party mediator to resolve the dispute.
ARTICLE 5: DURATION AND TERMINATIONThe Joint Venture shall commence on the date first above written, and shall continue until the property is sold, or until earlier terminated by mutual agreement of the Joint Venturers.
ARTICLE 6: INDEMNIFICATIONEach Joint Venturer agrees to indemnify and hold harmless the other Joint Venturer from any losses, damages, liabilities, costs, or expenses arising from the actions of the indemnifying party in connection with the Joint Venture.
ARTICLE 7: GOVERNING LAW AND DISPUTE RESOLUTIONThis Agreement shall be governed by and construed in accordance with the laws of the state of Colorado. Any disputes arising from or related to this Agreement shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association.
ARTICLE 8: SEVERABILITYIf any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
ARTICLE 9: ENTIRE AGREEMENTThis Agreement constitutes the entire agreement between the parties, and supersedes all prior oral or written agreements, understandings, or representations.
ARTICLE 10: AMENDMENTSThis Agreement may be amended or modified only by a written agreement signed by all Joint Venturers. IN WITNESS WHEREOF, the parties hereto have executed this Real Estate Joint Venture Agreement as of the day and year first above written. ______________________
Signature of Party A
Printed Name of Party A
Signature of Party B
Printed Name of Party B
State of Colorado
County of _________ This document was acknowledged before me on ______ (date) by ______ (name of person) as ______ (type of authority, e.g., officer, trustee, etc.) of ______ (name of party on behalf of whom document was executed).
Signature of Notary Public
My commission expires:
Before venturing into a Real Estate Joint Venture Agreement in Colorado, be sure to read through the terms and conditions, similar to those in a Contract for Deed Template.
Moreover, just like how you would scrutinize a Contract for Rental Property, pay attention to the details of your joint venture agreement to avoid future conflicts.
Additionally, the same level of diligence applied when reviewing a Contract for Sale of Real Estate should be put into understanding the intricate aspects of your joint venture agreement.