THIS AGREEMENTThis Real Estate Joint Venture Agreement (the “Agreement”) is made this [Insert Day] day of [Insert Month], [Insert Year] by and between [Insert Legal Name of First Party], of [First Party Address] (hereby known as “Party A”) and [Insert Legal Name of Second Party], of [Second Party Address] (hereby known as “Party B”).
WHEREASParty A and Party B desire to enter into this Joint Venture Agreement to facilitate the acquisition, development, and management of a real estate property in the State of Idaho, more specifically described in Exhibit A attached hereto (the “Property”).
JOINT VENTUREThe parties hereby form a joint venture under the laws of the State of Idaho and in accordance with the terms and conditions stated herein.
CONTRIBUTIONSParty A shall contribute [Insert Contribution], and Party B shall contribute [Insert Contribution] to the capital of the joint venture.
PROFITS AND LOSSESAll profits, losses, and distributions of cash or property from the Joint Venture shall be allocated to the Parties in proportion to their initial contributions.
MANAGEMENT AND CONTROLThe management and control of the Joint Venture shall be decided mutually by the Parties, with each Party having an equal vote in all decisions.
TERM AND DISSOLUTIONThe term of this Agreement shall commence on the date first above written and shall continue until [Insert Termination Date], unless otherwise terminated by mutual agreement of the Parties.
DEFAULTIn the event that either party defaults on any of its obligations under this Agreement, the non-defaulting party shall have the right to terminate this Agreement.
INDEMNIFICATIONEach Party shall indemnify and hold harmless the other Party against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever to the extent that any of the foregoing is directly or indirectly caused by such Party’s negligence, willful misconduct, or breach of this Agreement.
GOVERNING LAW AND JURISDICTIONThis Agreement shall be governed by and construed in accordance with the laws of the State of Idaho without regard to its conflict of laws principles. The parties consent to the exclusive jurisdiction of the state and federal courts located in Boise, Idaho.
ENTIRE AGREEMENTThis Agreement constitutes the entire agreement between the Parties and supersedes any prior agreement or understanding related to the subject matter of this Agreement.
SIGNATURESThis Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. [Party A Legal Name] ______________________________ Date:__________ [Party A Representative Name], [Title] [Party B Legal Name] ______________________________ Date:__________ [Party B Representative Name], [Title] Note: This Agreement is a sample and should not be used without review and input from a licensed attorney. The specifics of your situation may require different terms and conditions.
Just like the Real Estate Joint Venture Agreement Idaho, the Contract for Deed Template Idaho is an essential tool for individuals looking to secure a property transaction in Idaho.
Not only can you secure a joint venture, but you may also be interested in the Contract for Rental Property Idaho, which provides comprehensive details for leasing properties in the region.
And, if you’re ready to take the final step in your real estate journey, check out the Contract for Sale of Real Estate in Idaho to ensure a smooth and legally protected process.