Real Estate Joint Venture Agreement (Michigan): FREE Template To Download, Edit & Use

Welcome to our page dedicated to a Real Estate Joint Venture Agreement Michigan. This page is essential if you’re considering a real estate partnership or planning a collaborative venture for a Michigan property deal. Our easy-to-edit agreement template covers every aspect of a business alliance, from shared investment terms to co-ownership agreement stipulations, allowing you to create your own bespoke contract. Whether you are stepping into your first joint property venture or managing an ongoing cooperative venture, having an explicit, legally sound contractual arrangement is vital. Feel free to download and adapt the document to suit your needs.


THIS JOINT VENTURE AGREEMENT

This Agreement is made this __ day of ____, 20__ by and between ______ and ______, hereinafter referred to as the “Parties.”

PURPOSE OF THE JOINT VENTURE

The purpose of this Joint Venture Agreement is to set forth the terms and conditions under which the Parties will cooperate in the undertaking of real estate projects within the state of Michigan.

FORMATION

The joint venture formed by this Agreement (the “Joint Venture”) will conduct its business under the name ______, and will have its registered address at ______. The Joint Venture shall be considered in all respects as a joint venture between the Parties, and nothing in this Agreement shall be construed to create a partnership, agency, or employment relationship between the Parties.

TERM

This Agreement shall commence on the date first above written and shall continue in full force until the completion of the project, unless earlier terminated as provided herein.

CONTRIBUTIONS

Each Party shall contribute to the Joint Venture its respective knowledge, skills, resources, and capital as may be required for the successful completion of the project.

PROFITS, LOSSES, AND DISTRIBUTIONS

Profits, losses, and distributions of cash and other assets of the Joint Venture shall be allocated among the Parties in proportion to their respective percentage interests in the Joint Venture.

MANAGEMENT AND CONTROL

Management and control of the Joint Venture shall be divided equally among the Parties. Each Party shall have a single vote on all matters requiring Joint Venture decision.

DISSOLUTION

The Joint Venture shall dissolve upon the completion of the project or as otherwise agreed by the Parties.

DISPUTE RESOLUTION

Any disputes relating to this Agreement shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association.

GOVERNING LAW

This Agreement shall be governed by and construed under the laws of the state of Michigan, without regard to its conflict of laws principles.

MODIFICATIONS

No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.

ENTIRE AGREEMENT

This 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.

SIGNATURES

In witness whereof, the Parties have executed this Joint Venture Agreement as of the date first above written. ______ Name of Party 1 ______ Signature of Party 1 ______ Name of Party 2 ______ Signature of Party 2 Please note: This is a basic agreement and additional details such as indemnity, breach of contract, specific duties, responsibilities, project scope, etc., may need to be added as per the specific requirements of the parties involved. Furthermore, this template does not constitute legal advice or form an attorney-client relationship and it is recommended to seek the advice of a licensed attorney in the relevant jurisdiction.

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A Real Estate Joint Venture Agreement in Michigan may significantly overlap with other forms of property contracts. For instance, you can take into consideration a Contract for Deed Template in Michigan, which could provide valuable insights on how to draft your joint venture agreement.
Moreover, specifics regarding rental properties can also be found in a Michigan Rental Property Contract. It can provide crucial information concerning lease conditions, maintenance stipulations and rent payments.
Lastly, if your joint venture agreement involves the sale of properties, the Contract for Sale of Real Estate in Michigan can give you a comprehensive understanding of legal clauses and terms associated with property sale agreements.
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