REAL ESTATE JOINT VENTURE AGREEMENTTHIS REAL ESTATE JOINT VENTURE AGREEMENT (“Agreement”) is made and entered into this ____ day of _______, 20____ by and between __________, a Massachusetts corporation, (“Party A”) and __________, a Massachusetts corporation, (“Party B”).
RECITALSWHEREAS, Party A and Party B desire to form a joint venture under the laws of the State of Massachusetts for the purpose of acquiring, owning, developing and managing certain real property; NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1. FORMATIONThe joint venture formed by this Agreement (the “Joint Venture”) will conduct its business under the name __________ Joint Venture, and will have its registered office at __________. The Joint Venture shall be considered a joint venture between the Parties in all respects, and in no event shall this Agreement be construed to create a partnership or any other fiduciary relationship between the Parties.
2. PURPOSEThe sole purpose of the Joint Venture is to __________.
3. CONTRIBUTIONSThe Parties will contribute to the Joint Venture in the following manner: Party A contributes __________. Party B contributes __________.
4. DISTRIBUTIONSAny distributions made by the Joint Venture shall be made in the following proportions: __________ to Party A and __________ to Party B.
5. MANAGEMENTThe Joint Venture shall be managed by a Joint Venture Manager, who will be __________.
6. DISSOLUTIONThe Joint Venture shall be dissolved upon the happening of any of the following events: __________.
7. GOVERNING LAWThis Agreement shall be governed by and interpreted in accordance with the laws of the state of Massachusetts.
8. DISPUTE RESOLUTIONAny disputes related to this Agreement will be resolved through mediation. If the dispute cannot be resolved through mediation then it will be resolved through binding arbitration in accordance with the rules of the American Arbitration Association.
9. ENTIRE AGREEMENTThis Agreement contains the entire agreement of the parties with respect to the subject matter of this Agreement, and supersedes all prior negotiations, agreements, and understandings with respect thereto. IN WITNESS WHEREOF, this Agreement has been executed and delivered as of the date first above written. ___________________ ___________________ Party A Party B Date: __________ Date: __________ NOTE: This Real Estate Joint Venture Agreement form is intended for informational purposes only and may not be suitable for all business arrangements. It is advised to seek legal counsel before entering into any business contract.
If you’re looking to get involved in a real estate transaction in Massachusetts, whether it’s a joint venture or other forms of property acquisition, having the right legal documents is crucial. You’ll find useful resources such as a Contract for Deed Template for Massachusetts on our site, which is an essential tool for property transactions structured as a land contract, installment sales contract, or agreement for deed.
Moreover, the Contract for Rental Property is another key document you’ll need if you’re planning to rent out your property in Massachusetts. This document is essential in establishing a legally binding relationship between the landlord and the tenant.
Lastly, when it comes to selling or buying property in the state, our Contract for Sale of Real Estate in Massachusetts is specifically designed to help ensure that all aspects of the deal are clearly outlined and agreed upon by all parties involved. It’s crucial that this document is thorough and accurate to protect both the buyer and seller’s interests.