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REAL ESTATE JOINT VENTURE AGREEMENTTHIS JOINT VENTURE AGREEMENT (the “Agreement”) is made and entered into this _____ day of ___________, 20_____, by and between ___________, a Nevada Corporation, hereinafter referred to as “Party A“, and ___________, a Nevada Corporation, hereinafter referred to as “Party B“.
ARTICLE I – DEFINITIONS1.1 “Property” shall mean the real property located at _______________, Nevada, more particularly described in Exhibit A, attached hereto and made a part hereof. 1.2 “Project” shall mean the development and operation of the Property.
ARTICLE II – FORMATION OF THE JOINT VENTURE2.1 The parties hereto hereby form a joint venture pursuant to the Nevada Revised Statutes Chapter 87 and agree that the terms set forth herein shall govern this joint venture.
ARTICLE III – PURPOSE3.1 The purpose of the Joint Venture is to provide for the joint ownership, management, and development of the Project.
ARTICLE IV – CONTRIBUTIONS TO THE JOINT VENTURE4.1 Party A agrees to contribute $_______ and Party B agrees to contribute $_______ to the capital of the Joint Venture.
ARTICLE V – DISTRIBUTION AND ALLOCATION OF PROFITS AND LOSSES5.1 The net profits and losses of the Joint Venture shall be divided and allocated to the Parties in proportion to their respective initial capital contributions.
ARTICLE VI – MANAGEMENT6.1 The management and control of the affairs of the Joint Venture shall be vested in Party A and Party B both.
ARTICLE VII – DURATION AND TERMINATION7.1 This Agreement shall continue in effect until terminated by mutual agreement of the Parties or by operation of law.
ARTICLE VIII – DISPUTE RESOLUTION8.1 Any disputes arising out of this Agreement shall be resolved in accordance with the laws of the State of Nevada.
ARTICLE IX – MISCELLANEOUS9.1 The Parties agree that this Agreement is binding upon and shall inure to the benefit of their respective heirs, executors, administrators, and assigns. 9.2 This Agreement may be modified or amended only by written agreement signed by both Parties. 9.3 This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written. _____________________________
Party A _____________________________
Party B *This is a simplified agreement and additional clauses may be required based on the specific circumstances of the joint venture. Parties are advised to seek independent legal advice before entering into such agreement.* NOTE: This is a basic agreement and does not include all possible provisions that a comprehensive agreement might include. It is crucial to have your agreement reviewed by legal counsel before executing.
Understanding the complexities of a Real Estate Joint Venture Agreement in Nevada requires a comprehensive knowledge of other real estate contracts.
For instance, you can gain valuable insights from the Contract for Deed Template Nevada which outlines ownership transfer processes in deed contracts.
Also, the Contract for Rental Property Nevada details rental agreements, an essential aspect in real estate ventures.
Similarly, the Contract for Sale of Real Estate in Nevada explicates sale agreements necessary for a profitable real estate investment.