REAL ESTATE JOINT VENTURE AGREEMENTTHIS JOINT VENTURE AGREEMENT (the “Agreement”) made and entered into this [Date] (the “Execution Date”), BETWEEN: [Party 1] of [Address] (the “First Party”), – AND – [Party 2] of [Address] (the “Second Party”). WHEREAS the parties wish to jointly invest in real estate properties in the State of Hawaii, USA; NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. FORMATION OF JOINT VENTUREThe parties hereby create a joint venture pursuant to the laws of the State of Hawaii.
2. NAMEThe name of the joint venture will be [Joint Venture Name].
3. PURPOSE OF THE JOINT VENTUREThe exclusive purpose of the Joint Venture is to [describe the purpose].
4. TERMThe term of this Joint Venture shall commence on the date first above written and shall continue in full force and effect until the [End Date], or earlier as provided herein.
5. CONTRIBUTIONSThe Parties hereto shall each make an initial contribution to the Joint Venture as follows: [Party1] contributes [Contribution], [Party2] contributes [Contribution].
6. DISTRIBUTION OF PROFITS AND LOSSESThe net profits and losses of the Joint Venture shall be divided equally among the Parties.
7. MANAGEMENT AND CONTROLEach party shall have equal control and management of the Joint Venture.
8. ACCOUNTINGThe accounting of the Joint Venture shall be performed by [Accountant].
9. DISSOLUTIONThis Joint Venture Agreement may be terminated by either party upon [Number of Days] days prior written notice.
10. GOVERNING LAWThis Agreement shall be governed and interpreted according to the laws of the State of Hawaii, without regard for conflict of law principles.
11. DISPUTE RESOLUTIONAny disputes relating to this Agreement shall be resolved through mediation or arbitration in the State of Hawaii.
12. ENTIRE AGREEMENTThis Agreement contains the entire understanding between and among the Parties and supersedes any prior understandings and agreements among them respecting the subject matter of this Agreement. IN WITNESS WHEREOF, the Parties hereto have executed this Real Estate Joint Venture Agreement as of the Execution Date. ___________________________ ___________________________ [Party 1] [Party 2] Date: _________ Date: ___________ Please consult with an attorney before signing this agreement as it has significant legal consequences. This contract is a template and should be tailored to the specific needs of the parties involved. It is provided “as is” and with the utmost care and diligence, but no warranties or guarantees about its applicability or correctness in your situation are made by the provider.
If you’re contemplating a Real Estate Joint Venture in Hawaii, you’ll certainly want to familiarize yourself with various contract templates. For instance, an essential tool for property sellers is the Contract for Deed Template Hawaii, which outlines the terms for transferring property ownership.
Likewise, those renting out their properties will benefit from the Contract for Rental Property Hawaii, providing a legally binding agreement between landlords and tenants.
For those leaning more towards buying or selling properties, a handy resource to have is the Contract for Sale of Real Estate in Hawaii. This document is vital for understanding the necessary terms and conditions for real estate transactions in Hawaii.